FOB trade terms introduction

FOB (Free On Board), Chinese name free on board, free on board, commonly known as the port of shipment, is one of the commonly used trade terms in international trade, first appeared in the 1932 Warsaw-Oxford Rules.
In case of FOB transaction, the buyer is responsible for sending a vessel to receive the goods. The Seller shall load the goods on the vessel designated by the buyer at the port of loading and within the time limit stipulated in the contract and notify the Buyer in time. When the goods are loaded over the ship's rail, the risk passes from the seller to the buyer. In addition, in order to explain the burden of shipping costs, the buyer and seller often add additional conditions after the FOB term to form FOB conditions, mainly including FOB liner conditions, FOB delivery under the hook, FOB stowing charges, FOB trimming charges