what is FOB related to export of goods ?????
3 Replies
ashish gupta
( student)
(1922 Points)
Replied 04 September 2011
FOB means Free on Board.
This is a pricing term means transportation and insurance charges from the factory of the producer to the port of discharge is included in the quoted price.
CA-CWA RAVI
(CA-CWA in industry)
(5464 Points)
Replied 04 September 2011
FOB means that the Free on board value which the seller pays for transportation of the goods to the port of shipment, plus loading costs. The buyer pays cost of marine freight transport, insurance, unloading, and transportation from the arrival port to the final destination.
In short FOB does not include insurance and freight from port to the destination.
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