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Applicable mode of transportation: sea and inland waterway transportation (to the destination port, seaport, river port of ** country). 3. Key points:
The delivery point and risk point are on the ship at the port of shipment, the cost is divided into points, the sea freight is paid to the ship at the port of destination, and the insurance is handled and paid by the buyer. 4. The difference between the obligations of the buyer and the seller of CFR CNF and CIF The seller is not responsible for handling insurance and not paying insurance premiums in the CFR CNF contract.
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Group C" (CFR, CIF, CPT and CIP) means that the seller is required to conclude a contract of carriage but is not liable for the risk of loss of or damage to the goods and for additional costs incurred in the event of accidents after loading and departure on board the ship (the main freight has been paid).
CFR (Cost and Freight): Cost and freight (designated port of destination) means that the seller must deliver the goods to the ship destined for the designated port of destination within the shipping period specified in the contract, bear all costs and the risk of loss or damage of the goods until the goods cross the ship's side, and be responsible for chartering and booking the ship and paying the normal freight to the port of destination.
CIF (Cost, Insurance and Freight): Cost, Insurance and Freight (Designated Port of Destination) means that the seller must deliver the goods to the ship destined for the designated port of destination at the port of shipment within the shipping period specified in the contract, bear all the costs and the risk of loss or damage of the goods before the goods cross the ship's side, apply for freight insurance, pay insurance premiums, and be responsible for chartering and booking, and pay the normal freight from the port of shipment to the port of destination.
CPT (carriage paid to): Carriage paid to (specified destination), refers to the seller pays the freight of the goods to the specified destination, when the goods are handed over to the carrier for safekeeping, the risk of loss or damage to the goods, and the additional costs caused by the events that occur after the goods are handed over to the carrier, that is, transferred from the seller to the buyer.
CIP (carriage and insurance paid to): freight and insurance paid to (specified destination), refers to the seller pays the freight of the goods to the destination, and obtains cargo insurance for the buyer's risk of loss or damage to the goods in transit, concludes an insurance contract, pays the insurance cost, and the risk of loss or damage to the goods when the goods are handed over to the carrier for safekeeping, as well as additional costs arising from events that occur after the goods are handed over to the carrier. i.e. from the seller to the buyer.
Logistics Engineering Technology Major: The discipline of logistics engineering.
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CFR: Cost and Freight (Specified Port of Destination).
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