Tag List for FOB

This is the easiest explanation of FOB condition!

Logistics Column

What’s FOB? ・ Terms and conditions of transfer of responsibility on the deck of the ship FOB is one of the International Commercial Terms which is called Incoterms as abbreviation. FOB refers to the terms and conditions under which the responsibility for costs and risks transfers on the deck of a ship staying at the port of export. FOB stands for Free On Board, and in this case “Board” refers to the deck of a ship. So, FOB means, “On the deck of a ship, the exporter is free from the responsibility (the responsibility is transferred to the importer)”. In the shipping documents, the name of the export port is […]

Explained Incoterms with illustration. Necessary knowledge for Logistics job

Logistics Column
FOB

It is Incoterms that you must understand as long as you are a person who works not only in forwarders but also in the logistics department of manufacturers and trading companies. There are 11 items in Incoterms, but this time I would like to explain the 6 items used frequently. What is Incoterms? Incoterms is the definition of trade terms negotiated by the International Chamber of Committee. In trade transactions, the seller and buyer must firmly agree on conditions such as fare, insurance premiums and risk burden. This must not be inconsistent depending on the language and the countries so that we use internationally unified trading conditions called Incoterms. To […]

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