Commonly used foreign trade terms are as follows:
CFR (cost and freight) Cost and Freight:
The composition of the price of goods, including the usual shipping costs from the port of shipment to the agreed port of destination and the agreed insurance premiums, so the seller has the same obligations as the CFR term, but also for the buyer to handle freight insurance, pay the insurance premiums, according to general international trade practices, the seller should be insured by the CIF price plus 10% of the insurance amount. If the buyer and seller do not agree on the specific insurance, the seller is only required to obtain the minimum insurance coverage, such as the buyer's request for additional war risk, in the insurance premiums borne by the buyer, the seller should be added to the insurance, the seller to insure, such as can be done, should be insured in the contract currency.