FOB is an acronym for free on board, meaning that the buyer pays - TopicsExpress



          

FOB is an acronym for free on board, meaning that the buyer pays for transportation of the goods.[1] Specific terms of the agreement can vary widely, in particular which party (buyer or seller) pays for which shipment and loading costs, and/or where responsibility for the goods is transferred. The last distinction is important for determining liability or risk of loss for goods lost or damaged in transit from the seller to the buyer. International shipments typically use FOB as defined by the Incoterm standards, where it always stands for free on board. Domestic shipments within the United States or Canada often use a different meaning, specific to North America, which is inconsistent with the Incoterm standards.
Posted on: Mon, 04 Nov 2013 12:46:50 +0000

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