Asked by Natasha Rodriguez on Jun 12, 2024
Verified
What does the shipping term "FOB" indicate?
A) Fee on board
B) Fee on basis
C) Freedom of board
D) Free on board
E) Free of bailment
Shipping Term
Contractual terms between a seller and buyer indicating the delivery details, responsibility for goods, and the point at which risk transfers from one party to the other during transport.
FOB
An incoterm standing for "Free On Board," indicating that the seller bears delivery costs and risk until the goods are loaded on a vessel at the specified shipment point.
- Discern the differences between shipping phrases such as FOB and FAS.
Verified Answer
MH
matthew habermannJun 12, 2024
Final Answer :
D
Explanation :
The shipping term "FOB" means "free on board."
Learning Objectives
- Discern the differences between shipping phrases such as FOB and FAS.
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