Freight

The price or compensation paid for the transportation of goods by a carrier. Freight is also applied to the goods transported by such carriers.

The liability of a carrier for freight damaged, lost, or destroyed during shipment is determined by contract, statute, or TORT LAW.

The responsibility for the payment of freight is a subject of a term of a sales contract between the buyer and seller of the goods to be shipped. When a contract contains a c.f. & i. provision, the buyer accepts liability for paying the cost of freight in addition to the costs of the goods and insurance on them.