CARM: What all importers need to know about CARM

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Terminology

C

CFR, Cost and Freight

Under CFR Incoterms, the seller pays to bring the goods to the named port of destination, but the risk of loss or damage and any costs relating to the goods while in transit pass to the buyer once the goods are on board the vessel.(For a complete list of Incoterm definitions including a chart of buyer and seller responsibilities, see Universal’s Incoterms 2010.)

Quick Tip #9
How to cut import duties and taxes paid on freight deliveries

Make sure you insist that freight charges are shown on your Supplier’s Commercial Invoices.

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