Newsytchuangye

News

  • 1
  • 1

What is FOB?

Jime

What is FOB?

FOB is one of the trade terms commonly used in international trade. FOB is Free On Board(... Named port of shipment... Named port of shipment (commonly known as free on board. The seller shall load the goods on a vessel appointed by the Buyer at the port of shipment and within the time specified in the contract and notify the Buyer in time. When the goods cross the ship's rail while being loaded, the risk passes from the seller to the buyer.

 

Under FOB terms, the seller bears the risks and expenses, obtains the export license or other official documents, and is responsible for handling the export formalities. When the FOB term is used, the seller shall also, at its own expense, provide a document proving that it has fulfilled its obligation to deliver the goods in accordance with the provisions. If such document is not a transport document, the seller may, at the buyer's request and at the buyer's risk and expense, assist in obtaining a bill of lading or other transport documents.

 

Do You Need Freight Forwarders? DDP for World is a full-service and shipping forwarder dedicated to assisting our clients in focusing and growing their businesses.

 

Explanation of FOB terms

The basic obligations of the buyer and the seller shall be divided according to the interpretation of FOB by the International Chamber of Commerce. Generally speaking, it can be divided as follows:

 

Obligations of the Seller

1. Deliver the goods to the vessel designated by the Buyer at the port of shipment within the time or period specified in the contract in a customary manner and notify the Buyer in time.

Obtain an export license or other official approval at your own risk and expense. When it is necessary to go through customs formalities, it is necessary to handle the export of goods

All customs formalities.

2. Bear all costs and risks until the goods pass the ship's rail at the port of loading;

3. Provide the usual documents evidencing delivery of the goods to the vessel at your own expense. If the buyer and the seller agree to use electronic communication, all documents may be authenticated

4. Electronic data interchange (EDI) information with equal validity.

 

Buyer's obligations

1. Obtain an import license or other official documents at your own risk and expense. Handle import and customs formalities when necessary

2. All customs formalities in transit through other countries and the payment of relevant fees and transit fees;

3. Charter the vessel or book the space, pay the freight and give the seller sufficient notice of the name of the vessel, the place of loading and the required time of delivery; Bear all costs and risks after the goods pass the ship's rail at the port of loading;

4. Accept the relevant documents provided by the seller, collect the goods, and make the payment according to the contract.

 

DDPFORWORLD-Professional Amazon FBA shipping freight forwarder in China

Do You Need Freight Forwarders? DDP for World is a full-service and shipping forwarder dedicated to assisting our clients in focusing and growing their businesses.

Our background and experience allows us to advise you on the quickest,

safest, most cost-effective route to get your cargo shipped to Amazon. We take care of all the paper documents. All shipping and palletization will follow Amazon’s packing requirements, save cost and lower the risk for you.

We know Amazon’s regulations and packing & shipping guidelines very well, and keep up with changes as they happen, so we will make sure that your order is packed, labelled and shipped as required to be accepted by Amazon. If you have any questions or needs about us, please feel free to contact us, we will serve you wholeheartedly.

Contact DDPFORWORLD:

Phone: +86 18682082113

Email: info@ddpforworld.com

Wechat/Whatsapp: +86 18682082113

 

Inquery us

NEXT NEWS

Our Latest News

What is FOB?

What is FOB?…

Global niobium carbide powder market trend 2023-2029 Is Niobium Carbide NbC Hard? by Newsytchuangye

Gazprom recently said it had completely suspended gas supplies to Bulgarian Gas company and Polish Oil and Gas Company (PGNiG) because it was not being paid in rubles. Russia said it would resume gas supplies after it agreed to pay for them in ruble…

Global market trend 2023-2029 The impact of the international oil price slump on the ems thailand price market by Newsytchuangye

Oil prices plunged on July 5th to their lowest level in nearly three months. By the end of the day, U.S. CRUDE for August delivery was down $8.93, or 8.24%, at $99.50 / BB…