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What is Understanding FOB in Shipping Terms about?

Under the Incoterms 2010 standard, FOB (Free On Board) specifies that the seller pays for transportation of goods to the port of shipment and loading costs, while the buyer pays for shipment, unloading, and transportation from the arrival port. The risks pass when the goods are loaded on board at the port of shipment. In North America, FOB can mean either that the transfer occurs when goods are loaded (FOB Origin), or upon removal at the destination (FOB Destination). The specific terms of sale determine co

Author

Tewodros2014

Language

EN