Inco Terms for movement of goods is revised as Incoterms 2020. The importers and exporters are suggested to use the latest version. Click here to read the contents of Inco Terms 2020.
The information provided here is part of Online Training Course on howtoexportimport
How to differentiate CFR with CIP?
What are the difference between CIP and CFR?
As per Inco terms of shipping, CIP means Carriage and Insurance Paid (named destination mentioned). CFR means, Cost and Freight (up to the destination mentioned).
The detailed articles on CFR and CIP with simple language have been mentioned in this web blog separately. I suggest you to read these articles on CFR and CIP, so as to enable you to have a clear idea on these shipping terms.
The major difference between CFR and CIP is that the shipping term CIP is used in all modes of transport, where as CFR terms of shipping is used only for sea and inland water transport.
What is CIP? What are the responsibilities of buyer and seller under CIP terms? How does CFR term work? What are the obligations of buyer and seller under CFR terms of shipping.
Inco Terms for movement of goods is revised as Incoterms 2020. The importers and exporters are suggested to use the latest version. Click here to read the contents of Inco Terms 2020.
For your immediate reference, I give below web links on CIP and CFR separately 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 articles easily explain about CFR and CIP.
I hope, you have satisfied with the difference between CIP and CFR explained easily. Do you have different thought on difference between CFR and CIP?
Inco Terms for movement of goods is revised as Incoterms 2020. The importers and exporters are suggested to use the latest version. Click here to read the contents of Inco Terms 2020.
The above information is a part of Export import business Course online
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Inco Terms for movement of goods is revised as Incoterms 2020. The importers and exporters are suggested to use the latest version. Click here to read the contents of Inco Terms 2020.