This page is designed to provide a basic level of understanding of Incoterms ® 2020 Rules published by the International Chamber of Commerce (ICC)
Incoterms 2020EXW Ex Works FCA Free Carrier FAS Free Alongside Ship FOB Free on Board CFR Cost and Freight CIF Cost, Insurance and Freight CIP Carriage and Insurance Paid Тo DAP Delivered at Place DPU Delivered Named Place Unloaded DDP Delivered Duty Paid
Incoterms 2010DAT Delivered at Terminal
CFR/C&F - Cost and Freight (named port of destination)
The meaning of it is that the delivery is completed for the supplier when the product is on board the ship hired by the supplier to a port of destination. CFR is intended only for transporting goods by sea or inland waterway. Supplier pays export duty, packaging the goods and transportation of the cargo to the port, loads the goods on board, hires and pays the ship and provides the relevant documentation. Recipient unloads the vessel, delivers the goods to the destination, insures the goods, pays import duty, relevant certificates, licenses, etc. CFR is designed to transport goods in bulk or in containers, and also for transportation of heavy equipment.