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Most commonly used trade terms
- Jun 26, 2018 -

When we quote machine knife to you, we will ask you whether you need to know the price including freight, if you dont then it should be FOB terms. Then whats FOB?

 

FOB: short for Free on Board or Freight on Board. Named port of shipment ". Use the term, the seller shall be responsible for the export customs clearance formalities, at the port of shipment stipulated in the contract and within the prescribed time limit, the goods to the buyer appointed, bear all the risks before the machine knives at the port of shipment across the ship's rail, and promptly notify the buyer.

The risk transfer rules in this article have been amended by the 2010 general rules for the interpretation of incoterms. (this was revised in 2000 because it was not easy to prove whether the general rules stipulate the risk transfer over the ship's side.)