Cost and Freight means the seller pays the ocean freight to the named destination port, but risk transfers to the buyer once the goods are on board the vessel at the port of shipment.

Yes. CFR is for sea and inland waterway transport. For air, road or multimodal, use CPT/CIP equivalents.

Insurance is not included under CFR. The buyer decides whether to insure the shipment. If you want the seller to insure, use CIF.

Risk transfers to the buyer when the goods are loaded on board at the port of shipment, even though the seller is paying the ocean freight.

It is often better to use CPT/CIP for containerised shipments because the practical delivery point is at the terminal/first carrier, not on board. Many traders still use CFR, but CPT/CIP is cleaner for containers.

The buyer pays destination THC/port charges (where applicable), import clearance, duties/taxes and onward delivery.

Seller covers export clearance, agreed origin terminal handling up to loading, and the ocean freight to the named destination port.