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donapatrice
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Joined: 06/14/2008
donapatrice
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Joined: 06/14/2008
Thanks for the help now I

Thanks for the help now I understand what is the difference between them

nhduc.dng
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Joined: 06/14/2007
Hi Donapatrice

It's a simple question.

The below quoted from Incoterms 2000 can help answer your question:

"CFR: COST and FREIGHT means that the seller delivers when the goods pass the ship's rail in the port of shipment. The seller must pay the costs and the freight necessary to bring goods to the named port of destination. But the risk of loss or damage to the goods, as well as any additional costs due to events occurring after the time of delivery are transferred from the seller to the buyer.

CIF:  COST, INSURANCE and FREIGHT  means that the seller delivers when the goods pass the ship's rail in the port of shipment. The seller must pay the costs and the freight necessary to bring goods to the named port of destination. But the risk of loss or damage to the goods, as well as any additional costs due to events occurring after the time of delivery are transferred from the seller to the buyer. However, in CIF the seller also has to procure marine insurance against the buyer's risk of loss or damage to the goods during the carriage."

So now you may see that the main difference between CFR and CIF is INSURANCE for which  the seller has to contract and pay the premium.

Best regards,

Nguyen Huu Duc

sreesubha
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Joined: 08/15/2008
cfr

can you tell me what is the difference between C&F and CFR

thanks/sree

 

Armagedo's picture
Armagedo
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Joined: 09/10/2007
Hi! C&F, C+F, CANDF, CNF

Hi!

C&F, C+F, CANDF, CNF are 'slangs' used while discussing terms of delivery and are equivalents of CFR in such cases.

But there is only one designation internationally accepted and clearly understood.

It is CFR.... as per Incoterms 2000

So, please, use "CFR port of destination ACC O INCOTERMS 2000" in order to avoid any misunderstandings.

Good luck 

 

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