What are all the FOB terms and what do they mean?
A. Freight Term Ownership Payment Term Shipping Point Ownership passes to FIU when product is signed for by the carrier at the vendor’s shipping point. (FIU owns product in transit) FIU is billed by and pays vendor for freight charges. Destination / Add Ownership passes to FIU when the carrier delivers the product to the delivery point specified by FIU. (Vendor owns product in transit) FIU is billed by and pays vendor for freight charges. Destination Ownership passes to FIU when the carrier delivers the product to the delivery point specified by FIU. (Vendor owns product in transit) Freight charges are added to product unit price. F.O.B. Origin / Freight Prepaid & Allowed Ownership passes to FIU when product is signed for by the carrier at the vendor’s shipping point. (FIU owns product in transit) University is not billed. Vendor pays the freight charges. F.O.B. Origin / Freight Collect Ownership passes to FIU when product is signed for by the carrier at the vendor’s shipping point. (F
