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What is FOB (Free on Board / Intercoms 2000)?

April 26, 2017fob Free intercoms

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What is FOB (Free on Board / Intercoms 2000)?

1 Answer

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10 Posted

FOB (Free On Board): The seller delivers when the goods pass the ship’s rail at the named port of shipment. This means the buyer has to bear all costs (freight cost) and risks (insuarance) of loss or damage to the goods from that point. The FOB term requires the seller clear the goods for export.