Rules for Sea and Inland Waterway Transport:
- FOB: Free On Board
This means the Seller delivers goods, cleared for export, loaded on board the Vessel at the nominated port, once the goods have been loaded on board, risk transfers to the buyer, who will bear all costs thereafter.
- CFR: Cost and Freight:
This means that the seller delivers when the suitably packaged goods, cleared for export, are safely loaded on the ship at the agreed-upon shipping port.
The seller is responsible for pre-paying the freight contract. Once the goods are safely, stowed onboard. The buyer must be informed of the delivery arrangements with enough time to organize the insurance Buyer.
- CIF: Cost Insurance and Freight:
This delivery term means that the seller delivers when the suitably packaged goods, cleared for export, are safely stowed on board the ship at the selected port of shipment. The seller must prepay the freight contract and insurance.
