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Shipping Glossary

Shipping Glossary

FMS

CONTAINER FUMIGATION IN SPAIN

FOB (Free On Board-International Use)

The seller's responsibility ends when the goods pass over the ship's rail at the named port of shipment. The buyer bears all costs and risks of loss or damage from that moment, contracts and pays for carriage, and clears the goods for export

FOB Freight Allowed

The same as FOB named inland carrier except the buyer pays the transportation charge and the seller reduces the invoice by a similar amount

FOB Freight Prepaid

The same as FOB named inland carrier, except the seller pays the freight charges of the inland carrier

FOB Names Point of Exportation

Seller is responsible for the cost of placing the goods at a named point of exportation. Some European buyers use this form when they actually mean FOB vessel

FOB Vessel

Seller is responsible for goods and preparation of export documentation until actually placed aboard the vessel

FOC

Free of charge

Force Mejeure

The title of a common clause in contracts, exempting parties for unfulfillment of obligations as the result of conditions beyond their control such as earthquakes, floods or war

Fore and Aft

The direction on a vessel parallel to the center line

Foreign Sales Corporation

Takes the place of the Domestic International Sales Corporation (DISC). Studies the legal aspects of importing goods produced or assembled in more than one country

오시는 길

서울특별시 강서구 마곡중앙 8로 78(마곡동, SM R&D 센터) 5, 6층
지하철 5호선 발산역 1, 9번 출구