Under _____ to a named overseas port of import,the seller quotes a price for the goods including the cost of transportation to the named port of debarkation.The cost of insurance and the choice of insurer are left to the buyer.
A) delivered duty paid
B) cost and freight
C) free on board
D) free alongside ship

Question

Quizplus · Accepted Answer

Cost and freight (CFR) is a contract where the seller quotes a price that includes the cost of transportation of goods to the port of debarkation, but the cost of insurance is not included. The buyer is responsible for arranging and paying for insurance. Out of the given options, only CFR fits the description. Delivered duty paid (DDP) includes the cost of insurance and all other charges and fees, and free on board (FOB) and free alongside ship (FAS) do not include the cost of transportation to the port of debarkation.

Under _____ to a Named Overseas Port of Import,the Seller