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Free on board (FOB)
Implies that distribution services like transport and handling performed on goods up to the customs frontier (of the economy from which the goods are classed as merchandise) are included in the price.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Free On Board
In maritime international commerce, an agreement between a seller and a buyer indicating that the seller has fulfilled his/her obligation to deliver a good when he/she has transferred it to the ship on which it will be transported. All cost and risk transfers to the buyer when the good crosses the ship's rail. The buyer designates the ship onto which the seller must deliver the good. See also: United Nations Convention on Contracts for the International Sale of Goods, Incoterm.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
See free on board.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
fobsee FREE ON BOARD.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson