Legal Definition and Related Resources of F.o.b.

means free on board as contrasted with F.A.S. (see above). It means that the consignor will deliver the goods on car, vessel or other conveyance by which they are to be transported at his own expense. under the F.O.B. contract , the purchase price becomes payable only after the goods are on board of the designated carrier .

Browse or run a search for F.o.b. in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

F.o.b. in Historical Law

You might be interested in the historical meaning of this term. Browse or search for F.o.b. in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing F.o.b. in the Legal Abbreviations and Acronyms Dictionary.

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FOB Definition (in the Accounting Vocabulary)

The New York State Society of Certified Public Accountants offers the following definition of FOB in a way that is easy for anybody to understand: Indicates the point at which title to goods passes.

F.O.B.(Named Port of Shipment) in Maritime Law

Note: There is more information on maritime/admiralty law here.

The following is a definition of F.O.B.(Named Port of Shipment), produced by Tetley, in the context of admiralty law: [Translation of F.O.B. in French: “Franco Bord”] [Translation of F.O.B. in Spanish: “franco a bordo”] [Translation of F.O.B. in Italian: “franco a bordo”] [Translation of F.O.B. in German: “Frei an Bord (benannter Verschiffungshafen”]- F.O.B. (Free on Board) is a term of the contract of sale. Incoterms2000 (see this maritime law term in this legal dictionary) gives the following abbreviated definition of F.O.B.:

“Free on Board” means that the seller delivers when the goods pass the ship’s rail at the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export. This term can be used only for sea or inland waterway transport. If the parties do not intend to deliver the goods across the ship’s rail, the FCA term [free carrier] should be used.”

In the port of Antwerp, Belgium, the term “F.O.B.”, in general, means that the seller fulfills his obligation to deliver the goods when he delivers them to the ocean carrier (see this maritime law term in this legal dictionary) in the port of shipment, the buyer bearing all costs and risks from that moment onwards. There are certain variations in this rule, depending on whether general cargo, heavy cargo, bulk cargo or containerized cargo is involved. See Robert Wijffels (see this maritime law term in this legal dictionary), “Les Problèmes de la vente F.O.B.” [1978] ETL 531-549.

F.O.B. in Admiralty Law

For information on f.o.b. in this context, see the entry on f.o.b. in the maritime law encyclopedia.