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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 ...
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". [20]
This is a list of abbreviations used in a business or financial context. ... FOB – Freight On Board; ... $225K would be understood to mean $225,000, and $3.6K would ...
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.
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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.
Most of us immediately understand why butter needs to be at room temperature if you intend to cream it with sugar (and remember, you tend to see some iteration of the phrase "beat until fluffy ...
5. Excess Cash. Walking around with a fat wallet of cash feels good, but if you lose your wallet, the odds of keeping your green aren’t good. Besides, if you’re out and about and a potential ...