What does the Incoterms FOB mean?
FOB is the abbreviation for free on board, which can be translated as Free on Board. FOB is specific to goods transported by sea, such as the provisions that it is the seller’s responsibility to load the goods in question onto a vessel chosen by the buyer, the seller is also obliged to bear all costs and risks until the goods are landed on board the vessel and once the goods have to be loaded, all costs and risks are transferred to the buyer.
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