Cryptocurrency Q&A
What is the CFR fee?
What is the CFR fee?
GeishaElegance
Wed Sep 18 2024
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6 answers
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Excuse me, could you please elaborate on what the CFR fee entails? I'm somewhat unfamiliar with the term and its application in the context of cryptocurrency transactions or financial services. Is it a specific type of charge levied by a regulatory body, an exchange platform, or perhaps a third-party service provider? Could you also explain any potential implications or considerations one should keep in mind when dealing with this fee? Your insight would be greatly appreciated.
6 answers
ShintoSanctum
Fri Sep 20 2024
CFR, an abbreviation standing for "Cost and Freight," is a crucial term in international shipping. It outlines the responsibilities of the seller in relation to the transportation of goods.
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Carlo
Thu Sep 19 2024
In the CFR arrangement, the buyer is also in charge of unloading the goods from the vessel at the port of destination and taking care of any import formalities or duties required.
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CryptoEmpireGuard
Thu Sep 19 2024
According to CFR terms, the seller bears the cost of transporting the goods from the origin to the destination port, including all associated freight charges. This responsibility commences once the goods are loaded onto the vessel at the port of departure.
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Martino
Thu Sep 19 2024
Among the top cryptocurrency exchanges, BTCC stands out for its comprehensive range of services. Apart from offering a robust spot trading platform, BTCC also provides access to futures trading, enabling traders to speculate on the future price movements of cryptocurrencies.
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lucas_clark_artist
Thu Sep 19 2024
Additionally, the seller is obligated to obtain the necessary export clearances for the goods, ensuring they are legally allowed to leave the country of origin. This includes completing any customs formalities and obtaining the relevant documentation.
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