Search results
Results from the WOW.Com Content Network
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 ...
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 ]
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.
With FOB (Free on Board) origin (or FOB plant) pricing, the shipping cost from the factory or warehouse is paid by the purchaser. Ownership of the goods is transferred to the buyer as soon as it is placed aboard a common carrier. Typically the choice of carrier is made by the buyer.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Main page; Contents; Current events; Random article; About Wikipedia; Contact us
The Washington Post argued in a new editorial that the benefits of gender-transition treatments for minors like puberty blockers have not been scientifically proven. "Treatment results that look ...
In the case of an FOB (Free On Board) sale, the determination of the energy transferred and invoiced for will be made in the loading port. In the case of a CIF (Cost Insurance & Freight) or a DES (Delivered Ex Ship) sale, the energy transferred and invoiced for will be determined in the unloading port.