FOB – Free On Board is a fundamental Incoterm in international trade that signifies the transfer of responsibility for goods from the seller to the buyer. FOB represents the moment when the seller fulfills their duties, transitioning ownership and liability to...
With the ever-growing globalization of markets, the use of Incoterms has become an integral part of international trade, and Free Alongside Ship (FAS) is one of the most commonly used Incoterms today. Free Alongside Ship refers to a specific arrangement where the...
Incoterms FCA, also known as Free Carrier, is a vital trade term that outlines the responsibilities of the seller and buyer when transporting goods in international trade. This term specifies the exact point in the shipment process where the seller’s responsibility...
Incoterms EXW, short for Ex Works, is a set of standardized trade terms developed by the International Chamber of Commerce (ICC) to facilitate international trade and reduce misunderstandings among traders from different countries. These terms define the obligations...
How to reduce freight costs is a crucial question for any business that relies on shipping products to customers or moving raw materials to their facilities. According to the United States Department of Transportation (DOT), transportation costs can account for nearly...
