FOB

- May 11, 2020-

FOB

FOB is Free On Board (... named port of shipment), which means delivery on board (... named port of shipment). According to this term, the buyer is responsible for sending the ship to take delivery of the goods. The seller should load the goods on the vessel specified by the buyer within the loading port and the time limit specified in the contract and notify the buyer in time. When the cargo crosses the side of the ship when it is loaded, the risk is transferred from the seller to the buyer.

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