FOB - Free on Board
(incoterms 2000)
What is FOB?
FOB is a delivery term Free
on Board specified in INCOTERMS 2000.
FOB means that the seller
delivers when goods pass the ship's rail at the named port
of shipment (loading).
This also means that the
buyer should bear all costs and risks of loss or damage from
that point.
FOB term requires the seller
to clear the goods for export.
It is recommended
to verify specific details in Incoterms 2000.
Import, Export,
Incoterms
The seller's
obligations in FOB term:
Provision of goods
Licenses and export
formalities
Delivery at the named port of
loading
Transfer of risks to the
buyer
Details are
specified in Incoterms 2000
The buyer's
obligations in FOB term:
Payment of the price
Licenses and import
formalities
Contracts of carriage to the
named port of destinations and insurance
The buyer should bear all
risks from the time the goods passed the ship's rail
Details are
specified in Incoterms 2000
Additional
information about divisions of costs, notice to the
buyer, notice to the seller, proof of
delivery, transport documents and other
obligations available in INCOTERMS 2000 of
ICC.
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Subjects keywords:
FOB, Free on Board,
FOB definition, seller's obligations in FOB term, buyer's
obligations in FOB term, INCOTERMS. All
information about FOB.
