Sir/Madam, Can anyone please clarify me the difference between Carriage, Freight and Octroi? Thanks and Regards in advance
Freight and carriage are synonymous terms. In accounting terminology, 'freight' is used by Americans whereas British use the word 'carriage'. Cost and Freight is usually abbreviated as CNF. It means that the invoice amount consists of cost as well as freight. The payment of freight is made by the seller, hence included in the invoice.
FREIGHT : Payment for transportation of goods or items. OCTROI : is a local tax collected on various articles brought into a district for consumption. CARRIAGE : Carriage refers to the cost of transporting goods into a business from a supplier, as well as the cost of transporting goods from a business to its customers. Carriage inwards is the shipping and handling costs incurred by a company that is receiving goods from suppliers.