0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Who pays FOB?
IN TERMS OF FOB, Who pay pre -carriage? answer: seller
What does FOB Riga mean?
FOB is an acronym for Free On Board. The meaning is that the buyer pays for the transport of materials.
What is the difference between FOB destination and FOB shipping point?
FOB (Freight On Board) Destination and FOB Shipping specifies whether the buyer or seller owns the goods, and therefore, who pays for the shipping and includes the items in their inventory. FOB Destination means that the seller owns the goods until the buyer receives them. Therefore, the seller pays the shipping costs. FOB Shipping means that the buyer owns the goods once they are shipped. Therefore, the buyer pays the shipping costs.
What is the definition of FOB shipping point and FOB destination point?
FOB Destination means that the seller owns the goods until the buyer receives them. Therefore, the seller pays the shipping costs. FOB Shipping means that the buyer owns the goods once they are shipped. Therefore, the buyer pays the shipping costs.
If ship FOB who pays the freight?
FOB means freight on board. What this means is that the person supplying the goods will deliver and load the goods onto a vessel of your choice. You will be expected to arrange the actual shipping of the goods and cover all the costs. For example if I was buying goods in China to send to Europe, I would arrange a boat to ship my products overseas, when this is all booked, i would tell my supplier in China the name of the ship and when it will be at the port of origin (where the goods are coming from).They will then have to arrange the goods to be loaded onto the ship within the timeframe specified, after that, it would be my responsibility.
What does a buyer do When goods are shipped FOB destination and the seller pays the transportation charges?
makes no journal entry for the transportation
What term is used when a shipment is owned by the seller up to the point of destination and the seller pays the transportation costs?
FOB
Does fob mill mean the shipper pays the freight or the buyer?
I am guessing "freight on board" which means loaded but not transported.
What is the difference between import and export?
An import is something our country wants, and pays another country to ship in. An export is something another country wants, and pays our country to ship out.
What is the difference between export and imports?
An import is something our country wants, and pays another country to ship in. An export is something Another Country wants, and pays our country to ship out.
If buyer pays the freight cost of delivering merchandise what is the delivery term?
Free On Board Destination (FOB Destination). This means that the seller pays the the freight costs from the shipping point to the buyer's final destination.
What is the meaning of terminal handling charges in sea shipment?
Terminal handling charges (THC) are effectively charges collected by shipping lines to recover from the shippers the cost of paying the container terminals for the loading or unloading of the containers and other related costs borne by the shipping lines at the port of shipment or destination. For containers shipped on an FOB (Free-On-Board) terms, which specifies which party (buyer or seller) pays for which shipment and loading costs, and/or where responsibility for the goods is transferred. The shippers at the origin port of shipment are responsible for paying the THC at the port of loading. This is defined as the Origin THC. The consignees, or buyers of the cargo are responsible for paying the freight rate and the THC (or equivalent) on the discharge port of destination, known as the destination THC.
