Decoding foreign trade terms: CFR, CIF, and FOB

Navigating the Complexity of Foreign Trade Terms: CFR, CIF, FOB

Foreign trade terms, also known as international trade terms or incoterms, are acronyms commonly used in the shipping industry to define the cost transfer, risk transfer and insurance obligations between the seller and the buyer. Global trade comprises international shipping between multiple parties, such as importers, exporters, shipping companies, ocean carriers, and other logistics providers. […]