0
FOB is an abbreviation for Free On Board. The term FOB (often seen as f.o.b.) is commonly used when shipping goods, to indicate who pays loading and transportation costs, and/or the point at which the responsibility of the goods transfers from shipper to buyer. FOB shipping is the term used when the ownership/liability of goods passes from the seller to the buyer at the time the goods cross the shipping point to be delivered. FOB destination designates that the seller is responsible for the goods until the buyer takes possession. This is important in determining who is responsible for lost or damaged goods when in transit from the seller to the buyer. The buyer is responsible when shipped FOB shipping and the seller is responsible if shipped FOB destination. CAP, or customer arranged pickup, is used to denote that the buyer will arrange a carrier of their choice to pick the goods up and the liability for any damage or loss belongs to the buyer.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What does it mean term FOB in shipper?
Free On Board
What are ENCO terms for export?
The ENCO terms are CIF and FOB
What does fob stand for with anti theft devices?
In procurement and contract law FOB is free on board, i.e. no charges for getting to point of export
What does FOB means?
FOB means Freight On Board. Essentially it is used to indicate that a purchaser of goods that must be transported is responsible to pay for the freight. Yes FOB can mean that, but its also the slang term for Fresh Off the Boat. Meaning they're new to the country, or just have an accent. Teens these days use the term FOB all the time. In the military, FOB can also stand for Forward Operating Base. In US politics, FOB was a slang term for "Friend of Bill" (Clinton). The word "fob" means the chain attached to a pocketwatch.
What does fob in key fob stand for?
Fob stands for Fresh Of The Boat. FOB is a term for a new person in the country that stands out
What does FOR mean in shipping terms?
FOR? or do you mean FOB?
What does not mean export?
import does not mean export
What does fob apache mean?
A FOB is a Forward Operating Base. FOB Apache is in Southern Afghanistan, near Qalat.
What does the term FOB stands for?
Fresh off (the) boat. Derogatory term for immigrants.
The shipping term FOB stands for what?
free on board.
What is FOB an acronym for?
The abbreviation FOB means Free on Board. That means freight and insurance have not been taken into consideration while calculating export pricing. In fact under FOB shipment, the freight is payable by the buyer at destination. Insurance coverage is arranged before hand by the buyer.
What doese FOB mean?
FOB means Free on Board. While quoting rates in international trade, this term is extensively used. FOB should include cost of material, profit element,clearing agent's charges at port of shipment,where as the freight will be payable at destination by the importer and insurance is to be arranged by importer at their end.
