Free On Board

Free On Board. FOB – Free on Board (Port of Shipment) Incoterms 2020 Explained By using FOB the seller must clear the goods for export and delivers when the goods pass the ship’s rail at the agreed port This term is only used for water transportation either sea or inland water.

A graphical representation of the dimensions used to describe a ship f is the freeboard In sailing and boating a vessel’s freeboard is the distance from the waterline to the upper deck level measured at the lowest point of sheer where water can enter the boat or ship In commercial vessels the latter criterion measured relative to the ship.

Free On Board (FOB) Definition Investopedia

Free On Board means that the seller delivers the goods on board the vessel nominated by the buyer at the named port of shipment or procures the goods already so delivered The risk of loss of or damage to the goods passes when the goods are on board the vessel and the buyer bears all costs from that moment onwards Sample 1.

What Does Free or Freight On Board (FOB) Mean?

Advantages of Free On Board contractThe seller knows the whereabouts of his country and can dispatch the goods properlyFree On Board contract ensures clearance of customs It is the responsibility of the supplierThe buyer controls the shipping document as he is the one who selects the transport carrier.

Freeboard (nautical) Wikipedia

Free On Board is abbreviated as fob (also FOB fob or FOB) Categories Most relevant lists of abbreviations for fob Free On Board 3 Scientific Alternative Meanings FOB Forward Operating Base FOB Freight On Board FOB Fear Of Binding FOB Freight on Board FOB Functional Observational Battery 243 other fob meanings Ways to Abbreviate.