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FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
On the other hand, the buyer pays cost of marine freight transportation, bill of lading fees, insurance, unloading and transportation cost from the arrival port to destination. Since Incoterms 1980 introduced the Incoterm FCA, FOB should only be used for non-containerized seafreight and inland waterway transport.
Uniform delivered pricing is the opposite of the FOB origin pricing, as the same price is quoted to all customers. The transportation costs are averaged across all buyers, and the nearby customers are in effect subsidizing the faraway ones (paying more for the delivery than it costs the seller, the difference is called the phantom freight).
Incoterms inform sales contract by defining respective obligations, costs, and risks involved in the delivery of goods from seller to buyer. Incoterms 2010, the 8th revision, refers to the newest collection of essential international commercial and trade terms with 11 rules. Incoterm 2010 was effective on and from January 1, 2011.
Cost, Insurance and Freight; F. FOB (shipping) I. Incoterms This page was last edited on 29 April 2023, at 05:40 (UTC). Text is available under the ...
A freight rate (historically and in ship chartering simply freight [1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport (truck, ship, train, aircraft), the weight of the cargo, and the distance to the delivery destination.
These include the costs of transportation, the costs of making the goods compliant with the regulations of the shipping destination, and the costs associated with tariffs or duties. t r a n s f e r a b i l i t y = c o n s t a n t t r a n s p o r t a t i o n + r e g u l a t i o n s + t a r i f f s {\displaystyle transferability={\frac {constant ...
the economic circumstances of the parties and of the market in which the parties operate, e.g. the geographic location, the extent of competition, and consumer ...