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6 dni temu · Free on board (FOB) is a trade term used to indicate whether the buyer or the seller is liable for goods that are lost, damaged, or destroyed during shipment. Free on board shipping point...
8 kwi 2024 · FOB, or “free on board,” is a widely recognized shipping rule created by the International Chamber of Commerce (ICC). It defines the point when a buyer or seller becomes liable for goods transported by sea. FOB status says who will take responsibility for a shipment from its port of origin to its destination port.
17 cze 2024 · Free on Board (FOB) is a shipment term that defines the point in the supply chain when a buyer or seller becomes liable for the goods transported. Purchase orders between buyers and sellers...
21 sie 2023 · FOB Shipping Point. When the terms are FOB shipping point, the supplier relinquishes all of his responsibility for the goods at his shipping point and the buyer is obligated to cover the freight costs required for getting them to the desired location.
The FOB Incoterm has two main versions: FOB Destination and FOB Origin, also known as FOB Shipping Point. The main difference between FOB Origin and FOB Destination is the point where the cargo passes from the buyer to the seller, which directly affects the responsibilities of each party.
1 lut 2024 · FOB shipping point designates a specific point—the shipment point—where ownership and risk transfer from the seller to the buyer. This clarity streamlines the shipping process and minimizes ambiguities regarding responsibility.
FOB suits better for bulk cargo and not containerized cargo (use FCA instead). FOB can only be used for ocean transportation, the seller’s responsibility ends when the goods are placed on board of the vessel. All cost after loaded onboard must be assumed by the buyer.
