English Interpretation of FOB Trade Terms???

FOB (**Term) generally refers to:Free on board

Free on board is also known as "fob."

International ** terminology.

One. When the cargo crosses the ship's side at the designated port of shipment.

The seller completes the delivery. This means that the buyer must bear all risk of loss of or damage to the goods from that point onwards. In addition, the seller must go through the formalities related to the export of the goods. This term applies only to sea or inland waterway transport.

Imitation of the delivery carrier is an international **** term.

One. The seller only needs to deliver the goods to the carrier designated by the buyer at the designated place and complete the export customs clearance procedures. The choice of the place of delivery has an impact on the obligation to load and unload goods at that place before they are available.

If the place of delivery is the seller's place, the goods shall be deemed to have been fulfilled when they are loaded onto a means of transportation provided by a carrier nominated by the buyer or by another person acting on behalf of the buyer.

Otherwise, the goods are deemed to have fulfilled their obligation to deliver the goods when they are placed in the care of a carrier or other person appointed by the buyer on the seller's means of transport and have not yet been discharged, and the seller shall not be responsible for unloading the goods. This term is limited to maritime and inland waterway transportation.

Domestic fees in FOB include:

1. Processing and finishing costs.

2. Packaging costs.

3. Storage costs (storage rent, fire insurance, etc.).

4. Domestic transportation costs (warehouse to wharf).

5. Certificate fees (including commodity inspection fees, notary fees, consular visa fees, certificate of origin fees, license fees, storage fees, etc.).

6. Shipping fees (loading, lifting fees and barge fees, etc.).

7. Bank charges (discount interest.

fees, etc.).

8. Estimated loss (wear and tear, short loss, leakage, damage, deterioration, etc.).

9. Postal and telecommunications charges (telegram, **, telegram, fax, e-mail.

and other fees). The above content refers to Encyclopedia-FOB fees.

Encyclopedia-fob

FOB (Free on Board), that is, free on board at the port of shipment, also known as "fob". Under the terms of FOB**, the customer and the buyer are responsible for the sea freight, the sea freight and sea risk are borne by the buyer, and the consignor and seller are responsible for delivering the goods to the port of shipment specified in the contract and completing the export declaration procedures.

Features of FOB.

1. Take the shipside of the port of shipment as the delivery point, risk division point and cost division point.

The risk is transferred from the seller to the buyer as soon as the goods cross the ship's side when they are loaded on the ship.

2. Since the seller is responsible for transporting the goods to the ship's oak or onboard, and the buyer is responsible for contacting the vessel, the issue of frequent cargo connection under FOB conditions is very important.

3. Since the delivery point of FOB is eliminated on the ship at the port of shipment, the loading fee (loading fee, handling fee and flat room fee) at the port of shipment is often disputed. For this reason, FOB has derived a number of variations of the term, such as: FOB liner conditions, FOB under crane, FOB includes cabin, FOB includes flat cabin.

FOB (acronym for Freeonboard), also known as "FOB", is one of the terms commonly used in international markets.

In the case of FOB transactions, the buyer is responsible for dispatching the ship to receive the goods, and the seller shall load the goods on the vessel designated by the buyer within the port of shipment and the specified time limit specified in the contract, and notify the buyer in a timely manner. When the goods are loaded onto the named vessel at the port of shipment, the risk passes from the seller to the buyer.

The 1941 U.S. Revised Definition of Foreign Countries divided the interpretation of FOB into six types, of which only are: FOB at the designated port of shipment" (FOBVESSEL"namedportofshipment") is similar to the interpretation of FOB terms in the 2000 General Principles. Therefore, the interpretation and application of FOB in the 1941 Revised Definition of the United States is significantly different from the general interpretation and application in the world, which is mainly manifested in the following aspects:

1 In the United States, the practice of interpreting the FOB in general terms as delivery of goods on a particular means of transport at a certain place has a wide range of applications, so that when entering into a contract under the FOB with merchants from the United States, Canada, etc., the word "vessel" must be added after the FOB in addition to the name of the port of shipment. If the word "vessel" is omitted only as "fobsanfrancisco", the seller is only responsible for transporting the goods to any premises within the city of San Francisco, and not for transporting the goods to the port of San Francisco and handing them over to the ship.

2 In terms of risk classification, it is not bounded by the side of the ship at the port of shipment, but by the hold, that is, the seller bears all the loss and damage that occurs until the goods are loaded into the hold.

3 With respect to the burden of costs, the buyer is required to pay the documentation costs for the seller's assistance in importing the documents, as well as import taxes and other costs incurred.

Summary. FOB (Free On Board) is an international term that refers to the meaning of "shipping cost payment". That is, the buyer does not start paying the freight until the seller delivers the goods to the designated port of shipment.

The specific meaning of FOB depends on the definition of the terms of carriage in the contract.

FOB (Free on Board) is an international technical term that refers to the meaning of "shipping cost payment". That is, the buyer does not start paying the freight until the seller delivers the goods to the designated port of shipment. The specific meaning of FOB depends on the definition of the Laughing Old Carriage Clause in the **Contract Speculation.

The term refers to a specific expression used internationally to determine the terms of carriage, payment, insurance, and other terms of carriage of goods. They are often used in international contracts to ensure that all terms and conditions are understood by both parties.

FOB Interpretation, International Terminology.

Group F ** term, deformation of FOB.

Summary: Free on board (...)named port of shipment), i.e. free on board (......Specify the port of shipment). This term refers to the delivery of the goods by the seller to the vessel nominated by the buyer at the agreed port of shipment.

In China's foreign world, the main terms often used are FOB, CFR and CIF. In recent years, with the development of container transportation and intermodal transportation, the use of FCA, CPT and CIP terms has also increased. Therefore, first of all, we should have an understanding of the interpretation and application of these main terms.

1. Explanation of the terms of FOB only.

free on board(..named port of shipment), i.e. free on board (......Specify the port of shipment). This term refers to the delivery of the goods by the seller to the vessel nominated by the buyer at the agreed port of shipment.

According to the 2000 General Principles, this term can only be applied to maritime and inland waterway shipping. However, if the parties to the contract do not use the overboard.

Delivery, FCA terminology is more appropriate. (i) The division of the basic obligations of the buyer and the seller.

According to the ICC's interpretation of the FOB, the basic obligations of the buyer and the seller are each borne. To sum up, it can be divided as follows:

1 Seller's Obligations.

1) deliver the goods to the ship assigned by the buyer in the customary manner at the port of shipment within the time or period specified in the contract, and notify the buyer in a timely manner.

2) At your own risk and expense, obtain an export license or other official approval certificates. When customs formalities are required, all customs formalities required for the export of goods are carried out.

3) Bear all costs and risks until the goods cross the ship's side at the port of shipment;

4) Out-of-pocket expenses to provide the usual documents proving that the goods have been delivered to the ship. If the buyer and seller agree to use electronic communications, all documents may be replaced by electronic data interchange (EDI) information with equal effect.

2 Buyer's Obligations.

1) Obtain an import license or other officially approved documents at your own risk and expense. Handle all customs formalities for the import of goods and transit through other countries, and pay the relevant fees and transit fees, when customs formalities are required;

2) Responsible for chartering or booking, paying freight, and giving sufficient notice to the seller about the name of the vessel, the place of loading and the required delivery time;

3) Bear all costs and risks of the goods after crossing the ship's side at the port of shipment;

4) Accept the relevant documents provided by the seller, receive the goods, and pay the price according to the contract.

l c is a letter of credit, which is a common use of a transaction method in the world, its risk is low, by the bank as an intermediary, is a kind of bank credit, but the transaction parties to the bank pay a very high fee, now in the transaction also has the problem of letter of credit fraud, so the use should also be cautious. t t is a wire transfer, which is riskier than a letter of credit in a transaction, but the fee paid to the bank is much lower than that paid by a letter of credit. D P and D A both belong to collection, D P is a usance document against payment, that is to say, the buyer must pay the seller before being able to obtain the documents for the delivery of the goods, this transaction method enables the seller to receive the payment in a timely manner, D A is a document against acceptance, that is to say, as long as the buyer makes a certain payment commitment to the seller when receiving the payment notice, the relevant documents for the collection of the goods can be obtained, so D A has a certain risk.

FOB includes cabin (FOB Stowed) In order to make the chemical loaded on the ship properly placed and reasonably distributed, after the goods are loaded on the ship, need to be separated and sorted, this operation is called cabin management, who bears the handling fee, the ports of various countries have different regulations and interpretations, in order to clarify the responsibility and avoid disputes, when the buyer and seller negotiate the contract, they should make clear provisions on who bears the handling fee, if the buyer is unwilling to bear the loading freight and handling fee, then the transaction can be made according to the FOB Stowed conditions, According to this condition, the seller should not only bear the loading fee, but also pile up the goods loaded onto the ship and carry out the cushioning and arrangement, that is, it must also bear the handling fee, if the word "stowed" is not added after the FOB, and the charterparty stipulates that the ship does not bear the loading fee, the handling fee shall be borne by the buyer. FOB includes flat cabin (FOB trimmed) After the cargo is loaded on the ship, in order to maintain the pressure balance of the ship and the safety of navigation, the bulk cargo loaded into the hold in piles, such as coal, grain, etc., needs to be transferred and leveled. This operation is called a flat cabin.

According to the general practice, if the word "trimmed" is not added after the FOB, the seller does not bear the flat costs, and whether the flat costs are borne by the buyer or the ship depends on the provisions of the charterer's contract, and when the charterparty stipulates that the ship does not bear the loading costs, the flat fee shall be paid. FOB Stowed and Trimmed When the cargo loaded onto the ship, i.e. the catechism, is to be leveled, it is clear who bears these two costs, and if the words "stowed and trimmed" are added after the FOB, the seller must not only bear the cost of loading but also the cost of handling and trimming, and according to general practice, if the words "settling" and "flat" are not added after FOB, the cost of handling and flattening the cabin, the seller does not bear the burden.