| CAD (cash against documents) or D/P (documents against payment) |
| This is a collection where a bank is asked to release shipping documents to a buyer when they have been paid the collection amount. See collections for a full explanation. |
| Carrier |
| Person or company hired for the conveyance of goods e.g. shipping company |
| CFR (C & F or cost and freight) |
| This is an INCO term and explains what the price quoted represents and the responsibility of the buyer and seller in relation to arranging for the various costs associated(e.g. insurance, freight, duties) with the shipment. It can be used in sea, road or air transport. |
| CIF (cost, insurance and freight) |
| This is an INCO term and explains what the price quoted represents and the responsibility of the buyer and seller in relation to arranging for the various costs associated(e.g. insurance, freight, duties) with the shipment. It is normally used in sea or air shipments. |
| CIP (cost, insurance and carriage to point of destination) |
| This is an INCO term and explains what the price quoted represents and the responsibility of the buyer and seller in relation to arranging for the various costs associated(e.g. insurance, freight, duties) with the shipment. It is normally used for road transport but can also be used for a combination of transport methods when the goods are to be delivered by the seller to the buyer's premises. |
| Collection |
| This is where a seller sends documents relating to a shipment through his or her bank to the buyer's bank asking that they are released when a payment is made (CAD or D/P) or a bill of exchange is accepted (D/A). |
| Collection letter |
| This is the covering form or letter sent by a bank or seller requesting that the enclosed shipping documents and/or bill of exchange be released to a buyer against acceptance or payment. |
| Confirmed letters of credit |
| This is where a bank other than the issuing bank also guarantees payment under the letter of credit. It normally is used if a seller finds the issuing bank an unacceptable risk and asks his or her own bank or another acceptable bank to guarantee (confirm) the issuing bank's letter of credit.
See letters of credit for a full explanation. |
| Confirming Bank |
| See Confirmed Letters of Credit |
| Consignee |
| The party on a transport document to whom the goods are addressed for delivery |
| Consignor |
| The party on a transport document on whose behalf the goods are being shipped |
| Credit Risk |
| The risk that a buyer or seller will not complete a deal due to their inability to meet their obligations, or a deterioration in their financial position. |
