The INCOTERMS make the costs, risks and liabilities of the buyer and seller explicit. For instance, if the goods are exported on FOB basis, the seller is responsible until the goods are put on Board ...

The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has stated that no stranger to the contract of sale, including the Customs officer, has any right to re-determine ...

Who Pays the Freight Cost When the Terms Are FOB Destination?. FOB stands for "freight-on-board" and is used to describe the point in a transaction where a product being shipped becomes property ...

If your business involves shipping, importing, and exporting, then understanding freight costs is going to be a huge part of making your business a success. One of the key things you need to ...

Seller’s Main Obligations: These Incoterms (EXW, FCA, FAS, FOB) place most of the responsibility on the buyer.

It also announced four terms that apply to sea and inland waterway transport: FAS (Free Alongside), FOB (about which we have spoken), CFR (Cost and Freight) and CIF (Cost Insurance and Freight).

Introduction to Free on Board (FOB) FOB has its origins in the days of sailing ships. In the Incoterms® 2020 rules, as in previous versions, FOB requires the seller to place the goods on board the ...