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Shipping Glossary
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Shipping Glossary
FMSCONTAINER FUMIGATION IN SPAIN |
FOB (Free On Board-International Use)The seller's responsibility ends when the goods pass over the ship's rail at the named port of shipment. The buyer bears all costs and risks of loss or damage from that moment, contracts and pays for carriage, and clears the goods for export |
FOB Freight AllowedThe same as FOB named inland carrier except the buyer pays the transportation charge and the seller reduces the invoice by a similar amount |
FOB Freight PrepaidThe same as FOB named inland carrier, except the seller pays the freight charges of the inland carrier |
FOB Names Point of ExportationSeller is responsible for the cost of placing the goods at a named point of exportation. Some European buyers use this form when they actually mean FOB vessel |
FOB VesselSeller is responsible for goods and preparation of export documentation until actually placed aboard the vessel |
FOCFree of charge |
Force MejeureThe title of a common clause in contracts, exempting parties for unfulfillment of obligations as the result of conditions beyond their control such as earthquakes, floods or war |
Fore and AftThe direction on a vessel parallel to the center line |
Foreign Sales CorporationTakes the place of the Domestic International Sales Corporation (DISC). Studies the legal aspects of importing goods produced or assembled in more than one country |
