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Bank of JamaicaBIDDING DOCUMENTS Issued on: 25 November 2017Supply and Installation of Circuited Liquid Chillers RFP No: 2017120205Acronyms Based Data Sheet CFR CIF CIP CPM CPT Cost and Freight Cost,

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How to fill out cost and freight

01

To fill out cost and freight (CFR), follow these steps:

02

Start by identifying the parties involved in the transaction, including the buyer and the seller.

03

Specify the details of the goods being shipped, including the description, quantity, and any applicable product codes.

04

Determine the price of the goods and the method of payment agreed upon between the buyer and the seller.

05

Calculate the freight charges, including any additional costs such as insurance, handling fees, or customs duties.

06

Clearly indicate the point of delivery and the port of loading and discharge.

07

Include any required shipping documents, such as a bill of lading or a packing list.

08

Review the completed document for accuracy and completeness before signing and sending it to the relevant parties.

Who needs cost and freight?

01

Cost and freight (CFR) is typically used in international trade transactions where the seller is responsible for arranging and paying for transportation of the goods to a named destination.

02

The buyer, in this case, benefits from a more cost-effective and simplified shipping arrangement, as they only need to pay for the cost of the goods and any associated charges up to the designated port.

03

Various parties, including importers, exporters, and traders, may rely on cost and freight as a preferred shipping method to facilitate their international business operations.

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What is cost and freight?

Cost and Freight (CFR) is a trade term that requires the seller to arrange and pay for the cost of transportation of goods to a named port.

Who is required to file cost and freight?

The seller is typically required to file cost and freight as they are responsible for arranging and paying for transportation of the goods.

How to fill out cost and freight?

To fill out cost and freight, the seller must specify the agreed upon port of delivery, cost of transportation, and any other relevant details of the shipment.

What is the purpose of cost and freight?

The purpose of cost and freight is to outline the seller's responsibility for arranging and paying for the transportation of goods to a specified port.

What information must be reported on cost and freight?

The cost of transportation, specified port of delivery, and any other relevant details of the shipment must be reported on cost and freight.

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