Glossary of Shipping Terms

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Cost and Freight means that the seller delivers the goods on board the vessel or procures the goods already so delivered. The risk of loss of or damage to the goods passes when the goods are on board the vessel. the seller must contract for and pay the costs and freight necessary to bring the goods to the named port of destination.

Source: ICC Store (store.iccwbo.org/icc-incoterms)


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