CFR (Cost & Freight) is the incoterm that requires the seller to pay for the carriage of the goods up to the named port of destination. The shipper is responsible for origin costs including export clearance and freight costs for transportation to named port. Risk transfers to the buyer once the goods have been loaded on board the ship in the country of export. The shipper is not responsible for delivery to the final destination from the port or for buying insurance. If the buyer does require the seller to obtain insurance, the Incoterm CIF should be considered. CFR should only be used for non-containerized sea freight and inland waterway transport; for all other modes of transport it should be replaced with CPT.