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Free On Board (FOB-US Domestic Use)Shipped under a rate that includes costs of a delivery to and loading onto a carrier at a specific point. (FOB-International Use): An International Term of Sale than means the seller fulfills an obligation to deliver when the goods have passed over the ship’s rail at the named port of shipment. This means that the buyer has to bear all costs and risks to loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export |
Free Out (FO)Cost of unloading a vessel is borne by the charterer |
Free PortA restricted area at a seaport for the handling of duty-exempted import goods. Also, Foreign Trade Zone |
Free Sale, CertificateThe US Government does not issue certificates of free sale. The Food and Drug Administration, Silver Springs, Maryland USA, will issue, upon request, a letter of comment to the US manufacturers whose products are subject to the Federal Food, Drug and Cosmetic Act or other acts administered by the agency. The letter can take the place of the certificate |
Free TimeThe time allowed shippers or receivers to load or unload cars before demurrage, detention or storage charges accrue |
Free Time1The amount that a carrier’s equipment may be used without incurring additional charges |
Free Trade ZoneA port designated by the government of a country for duty-free entry of any non-prohibited goods. Merchandise may be stored, displayed, used for manufacturing, etc., within the zone and re-exported without duties |
FreightRefers to either the cargo carried or the charges assessed for carriage of the cargo |
Freight B/LA contract of carriage between a shipper and forwarder (usually an NVOCC); a non-negotiable document |
Freight BillA document issued by the carrier based on the bill of lading and other information, used to account for a shipment operationally, statistically and financially |
