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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 ...
The first work published by the ICC on international trade terms was issued in 1923, with the first edition known as Incoterms published in 1936. The Incoterms rules were amended in 1953, [5] 1967, 1976, 1980, 1990, 2000, and 2010, with the ninth version — Incoterms 2020 [6] — having been published on September 10, 2019.
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).
FOB (shipping) I. Incoterms This page was last edited on 29 April 2023, at 05:40 (UTC). Text is available under the Creative ...
Typical export transactions use Incoterms terms such as CIF, FOB or FAS, requiring the exporter/shipper to deliver the goods to the ship, whether onboard or alongside. Nevertheless, the loading itself will usually be done by the carrier or by a third party stevedore .
A carrier is an entity that actually transports goods and may use a variety of shipping modes, including ships, airplanes, trucks, and railroads, including multiple modes for a single shipment. [4] For example, the freight forwarder may arrange to have cargo moved from a plant to an airport by truck, flown to the destination city and then moved ...
FOB (shipping), or Free on Board, an Incoterm; Federal Office Building (disambiguation) Fixed odds betting terminal; Fob James (born 1934), former governor of Alabama;
UN/LOCODE, the United Nations Code for Trade and Transport Locations, is a geographic coding scheme developed and maintained by United Nations Economic Commission for Europe (UNECE). UN/LOCODE assigns codes to locations used in trade and transport with functions such as seaports , rail and road terminals, airports , Postal Exchange Office and ...