Specific delivery point to which vendor assumes shipping and handling expense and passes title of the goods as quoted in agreed purchase price. Examples: F.O.B. Destination; F.O.B. Shipping Point, F.O.B. Shipping Point, Freight Prepaid and Allowed.
Already loaded in the vessel/vehicle and ready for shipment; or received in the loaded condition. F.O.B. requires either "shipping point" or "delivered" to complete its meaning when used as a pricing consideration, as this determines who shall pay freight charges.
The price including cost of loading the goods for transportation at a specified place.
is an acronym for free on board, which is a common way of stating the terms of delivery for sales of goods. Terms of delivery are relevant for purposes of the place-of-supply rules outlined in Chapter 4.
Free on board. Indicates that a quoted price includes loading on a railroad car or truck at the designated point, but no further transportation costs are included.
Free on board; without charge to the buyer for goods placed on board a carrier at the point of shipment.
Shipped under a rate that includes costs of delivery to and the loading onto a carrier at a specified point.
An abbreviation (for "free on board") used in international trade statistics and sales contracts; a method of valuing traded goods that includes the cost of transportation to the port of embarkation and the cost of loading the goods on a vessel, but does not include further shipment or insurance costs. Export data are usually reported in f.o.b. terms.
The price quoted applies only at inland shipping point, and the seller arranges for loading of the goods on, or in, railway cars, trucks, lighters, barges, aircraft, or other conveyance furnished for transportation.
This is a delivery term, under which the seller must, at his risk and expense, place the goods in possession of the carrier (F.O.B. the place of shipment). Alternately, seller must, at his risk and expense, transport the goods to the place of destination (F.O.B. destination). If under either of the above, the term is also F.O.B. vessel, car or other vehicle, the seller must load the goods on board at his own expense and risk. If the term is F.O.B. vessel, the buyer must name the vessel. See Uniform Commercial Code, Section 2-319. The stated F.O.B. point is usually the location where title to the goods passes from the seller to the buyer. The seller is liable for transportation charges and the risks of loss or damage to the goods up to the point when title passes to the buyer. The buyer is liable for such charges and risks after passing of title.
Freight on board. Refers to printed matter that is ready to be shipped from its point of origin (the printing company). In the case of FOB, shipping arrangements need to be made in order for the shipment to reach its final destination.
Stands for “Freight on Board” without charge for delivery to and placing on board a carrier at a specified point; the point at which the shipping charge is calculated. .
Point at which title to goods pass.
The value of goods valued at the customs frontier of the exporting country including export duties and the cost of loading the goods onto the carrier unless the latter cost is borne by the carrier. All international freight and insurance beyond that point is excluded from the value of goods and reclassified in shipment. Factor cost. A term used in the valuation of GDP, to measure what it costs to produce the output of the nation in terms of payments to the factors of production used, namely, compensation of employees, and gross operating surplus. See Market prices. Factors of production. Factors employed in the production of goods and services. These refer to the total human effort of workers as well as land (including natural resources), capital and entrepreneurship.
Literally, "free on board"— used in quoting prices of goods at a specific location, not including transportation costs to any other location or installation costs.
Shipping term meaning "free on board" to inform the purchasers of the location at which they become responsible for the shipping charges (for example, F.O.B. Toronto means the vendor pays the charges to Torontoâ€™s freight yard and the purchaser is responsible from there).
A term of sale defining who is to incur transportation charges for the shipment, who is to control the shipment movement, or where title to the goods passes to the buyer; originally meant "free on board ship."
Free on Board. (exchange point): This expression follows an exchange point. The exchange point indicates the transition of responsibility (risk) from the buyer to the seller. See also Terms of Sale. For example: F.O.B. Origin The seller agrees to deliver the goods to the point of origin.
Freight on board our dock. Vendor maintains liability till goods reach our dock.
"Free on Board." This term refers to the point at which the title to goods transfers. Does not relate to freight charges.
Free on Board; cargo delivered to and placed on board a carrier at a specific point without charge.
Free on board. indicates the place where the responsibility for expenses and risk for goods is passed from seller to buyer. For example, F.O.B. Ann Arbor means that the buyer is responsible for freight charges and that ownership of the goods passes to the buyer after the shipment is loaded.
Indicates which services come with a price. Stands for 'free on board.' Describes a price which includes goods plus the services of loading those goods onto some vehicle or vessel at a named location, sometimes put in parentheses after the f.o.b. Source: econterms
Stands for Free On Board which is a mercantile expression used in sale contracts denoting that goods have to be delivered by the shippers on board the vessel at a particular place, free of charge.
FREE ON BOARD. The point of delivery where title of goods transfers from the Seller to Rutgers.
"Free on Board" is a pricing term indicating that the quoted price includes the cost of loading the goods into transport vessels at the specified place.
Shipping terminology. Means "Free On Board". Most of our equipment is shipped FOB Supplier's Dock - simply put, this means you, as the buyer, own and are responsible for the equipment from the moment it leaves the manufacture's shipping dock. It is essential you inspect your shipment and note any damage on the shipping paperwork prior to signing for it. Noting damage will entitle you to file a claim against the carrier for any damage caused in transit.
Stands for Free On Board and is an exxpression which is used in sale contracts to indicate that goods have to be deliveredby the shippers free of charge, on board the vessel at a particular place.
Free on board. This is a price for the product delivered by the sellers and loaded on the ship or aeroplane at their expense. Also see f.o.r.
Freight on board referring to freight terms. Is project figured FOB destination (supplier does shipping) or FOB our dock (customer picks up order or arranges freight movement).
An acronym meaning, "free on board". The term means that the seller is required to place goods aboard the equipment of the transporting carrier with or without cost to the buyer. The F.O.B. must be qualified by a location. The stated F.O.B. location is generally where title for the goods passes from the seller to the buyer. The buyer is liable for such charges and risks after passing of title.
ree oard, without charge to the buyer for merchandise placed aboard a carrier at the point of shipment.
Indicates that all delivery, inspection and elevation or loading costs involved in putting commodities on board a carrier have been paid.
Free on Board. When goods are shipped F.O.B., the shipper is responsible only until the goods have been placed on board the vessel or freight car or truck or other means of transport. After that the risk belongs to the consignee.
A term of sale meaning "free on board; the seller's responsibility for the goods ceases as the goods are loaded onto the overseas vessel for carriage overseas.
free on board: export term in which the price quoted by the exporter does not include the costs of ocean transportation, but does include loading on board the vessel.
A price that only covers the cost of the material and the loading of it onto a ship or into a pipeline prior to transportation. Transportation and insurance are the responsibility of the buyer.
Free On Board. An acronym for “free on board” when used in a sales contract. The seller agrees to deliver merchandise, free of all transportation expense, to the place specified by the contract. Once delivery is complete, the title to all the goods and the risk of damage become the buyer’s.
Free On Board. This is a historical transportation industry term. It deals with who pays the shipping charges on goods produced. The term is a pricing agreement which does not include the carriage charges, from the seller, to the buyer of a product. The seller absorbs the freight charges, the carriage charges, the destination charges, the shipping charges, etc., whatever you wish to call the expense to move the material from the seller to the buyer. There may well be third party billing of these carriage charges. The seller may well have incorporated these charges in the selling price, but does not invoice the buyer for that fee. Remember..."Free On Board," equates to a remembrance thought factor of ..."Free Onto The Buyer"...or F.O.B. as the early traffic managers so coined the term.