ABSTRACT
CFR. Cost and Freight (. . . named port of destination). ‘Cost and Freight’ means that the seller delivers when the goods pass the ship’s rail in the port of shipment. CIF. Costs Insurance and Freight (. . . named port of destination). ‘Cost, Insurance and Freight’ means that the seller delivers when the goods pass the ship’s rail in the port of shipment. FAS. (Free Alongside Ship (. . . named port of shipment). ‘Free Alongside Ship’ means that the seller delivers when the goods are placed alongside the vessel at the named port of shipment. FOB. Free On Board (. . . named port of shipment). ‘Free on Board’ means that the seller delivers when the goods pass the ship’s rail at the named port of shipment. CPT. Carriage Paid To (. . . named place of destination). ‘Carriage paid to . . .’ means that the seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination. CIP. Carriage and Insurance Paid To (. . . named place of destination). ‘Carriage and Insurance paid to . . .’ means that the seller delivers the goods to the carrier nominated by him, but the seller must in addition pay the cost of carriage necessary to bring the goods to the named destination.
