CFRSea & Inland Waterway OnlyIncoterms® 2020
Cost and Freight
- Seller's Responsibility
- Sea freight to named destination port. Export clearance. Loading.
- Buyer's Responsibility
- Insurance, import clearance, duties, unloading at destination.
- Risk Transfer Point
- When goods are on board the vessel at port of shipment.
- Cost Transfer Point
- At named destination port (freight paid by seller).
- Insurance Obligation
- No obligation on either party.
- Export Clearance
- Seller.
- Import Clearance
- Buyer.
Best For
When seller arranges sea freight but buyer handles insurance and destination costs.
Watch Out
Like CPT, risk and cost transfer at different points. Goods are at buyer's risk during sea transit even though seller paid the freight. Buyer should arrange marine insurance.