Cost and Freight definition

Cost and Freight means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. the seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination.

Cost and Freight means that the seller must pay the costs and freight necessary to bring the goods to the named port of destination but the risk of loss of or damage to the goods, as well as any additional costs due to events occurring after the time the goods have been delivered on board the vessel, is transferred from the seller to the buyer when the goods pass the ship's rail in the port of shipment.

Cost and Freight means that the seller delivers when the goods pass the ship’s rail in the port of shipment.

Examples of Cost and Freight in a sentence

• The Preformat Invoice shall be on total Cost and Freight (CFR) basis showing the charges separately from the Free on Board (FOB) cost.

• The CFR - Cost and Freight Chennai Sea Port, price quoted by the Foreign Bidder shall also include the Agency commission.

• In case the offered items are to be imported, the rates should be quoted in foreign currency on C & F Chennai Airport, Insurance Cover should be up to National Institute of Technology, Tiruchirappalli (i.e. The Cost and Freight is up to Chennai airport and the insurance cover should be up to National Institute of Technology, Tiruchirappalli).

• GCC 10.1— In case of DDP (Delivered Duty Paid) the successful bidder shall provide the ordered goods with in One Hundred & Twenty (120) days after issuance of purchase order, while on CFR (Cost and Freight) basis, after establishment / opening of Letter of Credit (L.C).

• Recognise revenue when (or as) the entity satisfies the performance obligation.The Group sells a portion of its product on Cost and Freight (CFR).

More Definitions of Cost and Freight

Cost and Freight means that the seller must contract for carriage from the agreed port of shipment (if any such port is agreed between the parties) to the named port of destination and that it must deliver the goods to its carrier in that port of shipment by placing them on board the vessel (or by procuring goods so delivered). Unless the seller and buyer have agreed on a specific port of departure (‘ship from’) where the goods are to be delivered, the seller may choose the port of delivery/shipment that best suits its purpose.

Cost and Freight means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the

Cost and Freight means that the seller delivers the goods to the buyer on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods transfers when the goods are on board the vessel, such that the seller is taken to have performed its obligation to deliver the goods whether or not the goods actually arrive at their destination in sound condition, in the stated quantity or, indeed, at all. In CFR, the seller owes no obligation to the buyer to purchase insurance cover: the buyer would be well-advised therefore to purchase some cover for itself.

Cost and Freight means that

Cost and Freight means that the seller delivers

Cost and Freight means that the seller delivers the goods on board the vessel. The risk of loss of or damage to the goods passes when the goods are on board the vessel. The seller is responsible for origin costs including export clearance and freight costs for carriage to the named port. The seller is not responsible for delivery to the final destination from the port (generally the buyer's facilities), or for buying insurance. If the buyer does require the seller to obtain insurance, the I CIF should be considered. CFR should only be used for non- containerized sea freight. For all other modes of transport CPT should be used

Cost and Freight means that the seller delivers when the goods pass the ship’s rail in the port of shipment. The seller must on his own risk contract for the carriage of the goods to the port of destination named in the sale contract and pay the freight. This being a shipment contract, the point of delivery is fixed to the ship’s rail and the risk of loss or damage to the goods is transferred from the seller to the buyer at the very point. As will be seen though the seller bears the cost of carriage to the named destination, the risk is already transferred to the buyer at the port of shipment itself.