Difference between CFR terms and CIP terms

 


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Difference between CIP terms and CFR terms.


Can I use CFR terms in air shipments? Can I use CIP terms in sea shipment?


What are the differences between CIP and CFR?   Let us discuss on CFR vs.CIP below:


Difference between CFR terms and CIP termsAccording to shipping terms, CFR means Cost and Freight paid (to named destination), CIP means Carriage and Insurance paid (up to named destination.)
The term CFR is used for sea and inland water transports, where as CIP is used for movements of goods under any mode of transport.

 

The major difference between  CIP and CFR is that under CIP terms, the seller pays insurance cost and under CFR terms, the buyer insures the goods at his own cost.
I have easily explained the terms CFR and CIP in same web blog.  Please find below link on CIP and CFR terms of shipping for your quick reference:

 

What is CFR and how does it work in International Trade?

What is CIP terms in Inco terms?Buyer’s responsibilities under CIP terms?Seller’s duties under CIP terms of shipping?


I hope, you have satisfied with the above terms easy to understand.  If you would like to write more on difference between CIP and CFR, please do not hesitate to express your thought below.

 

 

 

Detailed articles about Inco Terms of Delivery under export and import of International business  have been mentioned in  separate category – INCO TERMS – in this web site.  You can click here to read.

 

The above information is a part of Export import business Course online


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Difference between CIP and CFR in shipping terms
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