Free on Board (Fob) Contract Sample Contracts
ContractFree on Board (Fob) Contract • July 2nd, 2019
Free on Board (FOB)⚫ A type of contract for the international sale of goods in which the seller's duty is fulfilled by placing the goods on board a ship ⚫ Under the International Commercial Terms (INCOTERMS) 2000, risk and responsibility shift from the hand of a seller to buyer when:-⚫ the goods are passed over to place off the dock or on the ship⚫ the goods are loading at the nominated port⚫ the goods is being cleared for export by the seller