INCOTERMS

COST AND FREIGHT (CFR) [insert named port of destination]

RISK
The Seller delivers the goods by placing them onboard the vessel nominated by the Seller at a named port of loading.

The risk of loss of/or damage to the goods transfers when the goods are loaded onboard the vessel.

The Seller contracts for and pays for the costs and freight necessary to bring the goods to the named port of destination.

CRF requires the Seller to clear the goods for export (where applicable).

INSURANCE
Buyer should take out insurance from the time when the goods are loaded onboard the vessel nominated by the Seller at a named port of loading.

Seller should take out insurance for any pre-carriage and loading operations.