What Is F O B

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 transport. Cost insurance and freight cif and free on board fob are international shipping agreements used in the transportation of goods between a buyer and a seller. Fob stands for free on board or freight on board and is a designation that is used to indicate when liability and ownership of goods is transferred from a seller to a buyer.

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Free on board fob is a trade term that indicates whether the seller or the buyer has liability for goods that are damaged or destroyed during shipment between the two.

What is f o b. What fob stands for. Free on board indicates whether the seller or the buyer is liable for goods that are damaged or destroyed during shipping. An abbreviation for free on board which means that a vendor or consignor will deliver goods on a railroad car truck vessel or other conveyance without any expense to the purchaser or consignee.

It is the location where ownership of the merchandise transfers from seller to buyer. Free on board fob. The acronym fob which stands for free on board or freight on board is a shipping term used in retail to indicate who is responsible for paying transportation charges.