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"FOB destination" means the transfer occurs the moment the goods are removed from the transport at the destination. "FOB origin" (also sometimes phrased as "FOB shipping" or "FOB shipping point") indicates that the sale is considered complete at the seller's shipping dock, and thus the buyer of the goods is responsible for freight costs and ...
Under FOB terms the seller bears all costs and risks up to the point the goods are loaded on board the vessel. The seller's responsibility does not end at that point unless the goods are "appropriated to the contract" that is, they are "clearly set aside or otherwise identified as the contract goods". [21]
If it is a destination contract (FOB (buyer's city)), then risk of loss is on the seller. If it is a delivery contract (standard, or FOB (seller's city)), then the risk of loss is on the buyer. In cases not covered by the foregoing rules, if the seller is a merchant, then the risk of loss shifts to the buyer upon buyer's "receipt" of the goods.
Uniform delivered pricing is the opposite of the FOB origin pricing, as the same price is quoted to all customers. The transportation costs are averaged across all buyers, and the nearby customers are in effect subsidizing the faraway ones (paying more for the delivery than it costs the seller, the difference is called the phantom freight).
FOB (shipping) I. Incoterms; This page was last edited on 29 April 2023, at 05:40 (UTC). Text is available under the Creative Commons Attribution ...
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Second chances don’t come around often in life, Ohio State coach Ryan Day told his players in a team meeting before the Rose Bowl. After a season in which they fell short at too many key moments ...
For example, when the article says "FOB destination", does that mean you use the word "destination", or do you replace "destination" with the city you are shipping to? If the terms "destination" and "shipping point" are indeed meant to be replaced by the user, which is common practice from what I see, then it should be mentioned that these ...