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INCOTERMS > DEFINITIONS > FOB - FREE ON BOARD
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FOB - Free On Board
 
 
FOB / FREE ON BOARD (... named port of shipment) : The seller delivers when the goods pass the ship’s rail at the at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export. This term can only be used for sea or inland waterway transport. If the parties do not intend to deliver the goods across the ship’s rail, the FCA term should be used.
 
Click here for the ICC Publication on FOB
 

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