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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 Incoterms rules were amended in 1953, [4] 1967, 1976, 1980, 1990, 2000, ... Since Incoterms 1980 introduced the Incoterm FCA, FOB should only be used for non ...
These can relate to three types of sale contract as defined by Incoterms 2000: an FOB sale, a CIF sale or a DES sale. 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.
FOB (shipping) I. Incoterms This page was last edited on 29 April 2023, at 05:40 (UTC). Text is available under the Creative Commons ...
The Incoterms (or International Commercial Terms) published by the International Chamber of Commerce (ICC) are accepted by governments, legal authorities, and practitioners worldwide for the interpretation of the most commonly used terms in international trade. Common terms include: Free on Board (FOB) Cost and Freight (CFR, C&F, CNF)
Fob or FOB may refer to: Entertainment. FOB , a 1981 ... FOB (shipping), or Free on Board, an Incoterm; Federal Office Building (disambiguation) Fixed odds betting ...
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.
This receipt can be used as proof of shipment for customs and insurance purposes, and also as commercial proof of completing a contractual obligation, [18] especially under INCOTERMS such as CFR [e] (cost and freight) and FOB (free on board).