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FOB is only used in non-containerized sea freight or inland waterway transport. As with all Incoterms, FOB does not define the point at which ownership of the goods is transferred. The term FOB is also used in modern domestic shipping within North America to describe the point at which a seller is no longer responsible for shipping costs.
Under FOB terms the seller bears all costs and risks up to the point the goods are loaded on board the vessel. The seller's responsibility does not end at that point unless the goods are "appropriated to the contract" that is, they are "clearly set aside or otherwise identified as the contract goods". [21]
FOB place of business—The seller assumes risk of loss until the goods are placed on a carrier. FOB destination: the seller assumes risk of loss until the shipment arrives at its destination. If the contract leaves out the delivery place, it is the seller's place of business. Risk of loss—Equitable conversion does not apply.
If it is a destination contract (FOB (buyer's city)), then risk of loss is on the seller. If it is a delivery contract (standard, or FOB (seller's city)), then the risk of loss is on the buyer. In cases not covered by the foregoing rules, if the seller is a merchant, then the risk of loss shifts to the buyer upon buyer's "receipt" of the goods.
The collapse of the Francis Scott Key Bridge in Baltimore — and the necessary closure of the city's main port — is expected to delay shipping activity that reaches much of the U.S.
International DTD is a service provided by many international shipping companies and may feature intermodal freight transport using containerized cargo. The quoted price of this service includes all shipping, handling, import and customs duties, making it a hassle-free option for customers to import goods from one jurisdiction to another. This ...
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Fob or FOB may refer to: Entertainment. FOB, a 1981 play by David Henry Hwang; Fall ... FOB (shipping), or Free on Board, an Incoterm; Federal Office Building ...