Free On Board (FOB) (...named port of shipment) 3
Free On Board (FOB) (...named port of shipment) 3 : A pricing term indicating that the quoted price includes the cost of loading the goods into transport vessels at the specified place. The seller fulfills his obligation to deliver when the goods have passed over the ship's rail at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export. This term can only be used for sea or inland waterway transport. When the ship's rail serves no practical purpose, such as in the case of roll-on/roll-off or container traffic, the FCA term is more appropriate to use. North American sellers and buyers tend to use the term "FOB" inappropriately
No records Found