What Is Fob ? More Information About It

What is FOB? This is a common question among those who are new to the shipping industry and an extensive investigation, in fact

. Can not understand this concept correctly lead to the loss of hundreds of dollars.

Has been found to better define the meaning of the FOB in the same prefix, which is free within the Council, although some prefer to use the definition of shipment is FOB on the plane. In both cases, the term refers to the ship at any time during the process of shipping the product to the buyer is not responsible for the charges against him.

Some may wonder what the importance of understanding the definition of the FOB value is, there are several reasons why the understanding of this concept is important. FOB and determines where the risk of loss involved and the product is transferred from seller to buyer. In addition, the buyer can lose a lot of money in his ignorance of these conditions because it provides the amount due to shipping, which can add up to a sum of money, especially for greater load.

Still confuses many choices when you hear in the general definition. There are four standard options of the FOB. First, the seller can not be responsible for paying all shipping charges, while the buyer is responsible for insurance on the product, and this is called the method of payment and destination of the shipment of CF. Others prefer to establish an FOB destination that places greater responsibility on the seller because it is responsible for the cost for both the shipping and the risk of loss. FOB shipping point is the exact opposite, and the buyer is responsible for the costs and potential damage. Finally, choose the insurance payment and delivery to the destination provided that the seller is responsible for the security product to protect it during transport.

Buyers of imported products that have been doing for some time has not been presented with the options of FOB requests because they are subject to the conditions set by the sender, and these are often not in their favor.

In the event the product is lost or stolen in transit, the purchaser may be responsible for coverage of such damages. Buyers often carry insurance on shipping, but again this is something that should be determined in advance in the terms and conditions. For this reason, all purchasers of goods shipped FOB understand the concept.

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