Free On Board

Free On Board(FOB) An Incoterm denoting an export contract in which the seller pays for sending the goods to the port of shipment and loading them on to the ship. Thereafter all costs and risks are assumed by the buyer. The seller is responsible for arranging export documentation. If the goods are to travel by air or rail the terms FOB Airport or Free On Rail (FOR) are sometimes used, although these are not recognized Incoterms. Comparefree alongside ship. See alsofree carrier.

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