Term of sale signifying that the price invoiced or quoted by a seller for a shipment does not include insurance charges, but includes all expenses up to a named port of destination. In comparison, carriage paid to (CPT) terms include all transport charges (but not insurance) up to a named place (usually the buyer's warehouse) of destination.
Definition of 'Cost and Freight'
Definition:Cost refers to the cost of goods and freight refers to all other costs relating to all the means of transportation of the goods. It means that the seller must pay the costs and freight necessary to bring the goods to a named port of destination and must also procure marine insurance against the buyer's risk or loss to the goods during the carriage.
Description:C&F stands for cost and freight and is always stated as C&Fthe port of importation. The norm is to state the geographic location of the port of importation. For example, C&F Jeddah, Saudi Arabia. In the export quotation, the party has to indicate the port of destination (discharge) after the acronym CIF, for example, CIF Jeddah and CIF Singapore.
The term CIF is used for ocean freight only. However, in practice, many importers and exporters still use the term CIF in the air freight.
