It is used during the maritime transport process, as it means that the seller will be obligated to pay all wages with the workers present at the port.
Agreements agreed upon by many investors, and the word C&F is meant by both parties, which is an abbreviation of cost and freight, the word COST, which specializes in goods, and the word Freight, which is related to goods.
C&F Term
The seller will be fully responsible and responsible for all goods that are delivered with the need to protect and fully secure them until they arrive at the port and the obligation to pay all expenses related to the port and its employees, and this term is considered one of the best terms through which all shipping services are done.
Also read: Shipping Terms Defined in Detail
Advantages & Disadvantages of Charging
The supplying company is responsible for all expenses and costs of the goods in the event that anything happens to them, and customers must agree with the supplier on all the details and there must be items on those things and be agreed upon so that no problems occur during the transfer process. Agreeing on the items of the basic and comfortable things for each of the parties and helping them to preserve their purposes without being exposed to any damage or problems, the term that is agreed upon by the seller and the importer is the one agreed upon at the end of the work so that no problems occur during the transfer process, so the commercial terms are important Very, in any case.
Also read: Payment Methods of Import and Export
Seller Obligations
Which is applied to the seller in all general terms and is the preservation of all purposes with the provision of official papers for the goods and bearing all expenses in the event of any problems to the goods and this must be official documents for all the work that takes place between them, must be the availability of insurance certificates and notification in If there are things that are subject to breakage. As a percentage of losses and to be estimated at 10% on all movables, these essentials must be taken into consideration and well recognized, due to the ease of the transportation process and the absence of any concerns or problems at all in this matter, also must be known about the available payment services and insurance documents and all this is agreed On it by both parties.
Also read: Meanings of Shipping Terms
Obligations of the Buyer
To be accurate and one of the most important obligations of the buyer is the obligations of the previous sale and for the buyer to bear all expenses that are incurred on the work related to all the goods that are transported during the marine transport, but he is not obligated to pay the expenses of marine insurance.
Also read: The Meaning of CFR in Shipping