What is FOB shipment contract?
Correspondingly, what does shipping term FOB mean?
Free On Board
Beside above, what is the difference between FOB shipping and FOB destination? FOB is the short term for "Free on Board Shipping point". FOB shipping is a type of agreement where the buyer of the goods or services becomes the owner at the time goods are shipped. Whilst FOB destination is a type of agreement where the buyer of the goods becomes the owner at the time goods are received.
Keeping this in consideration, what is FOB short for?
The acronym FOB, which stands for "Free On Board" or "Freight On Board," is a shipping term used in retail to indicate who is responsible for paying transportation charges. It is the location where ownership of the merchandise transfers from seller to buyer.
What does FOB stand for in court?
Free on Board