What does CIF/CFR price means?

Question

it may conscerns exports of goods

Answer 1

CIF = Cost Insurance & Freight

CFR = Cost & Freight.

Both are "Incoterms" (International commercial terms)

CFR. Cost and Freight (named destination port): seller must pay the costs and freight to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods have crossed the ship's rail. Maritime transport only.

CIF. Cost, Insurance and Freight (named destination port): exactly the same as CFR except that the seller must in addition procure and pay for insurance for the buyer. Maritime transport only.