CFR stands for Cost and Freight. CFR is a trade term used in international commercial contracts, and CFR only applies to shipments by sea.
CFR (Cost and Freight) defines the responsibilities of the seller and buyer when it comes to shipping goods by sea. The seller is responsible for delivering the goods on board the vessel.
The risk of loss of or damage to the goods passes to the buyer once the goods are on board the vessel. CFR also clarifies the costs associated with maritime transportation in international trade.
Dive deep into CDS here.
