| TERM | DESCRIPTION | Loading at origin | Export customs declaration | Carriage to port of export | Unloading in port of export | Loading on vessel in port of export | Carriage to port of import | Unloading in port of import | Loading in port of import | Carriage to port | Insurance | Import customs clearance | Import duties and taxes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FOB | FOB - Free On Board (porto specifico di partenza) | SI | SI | SI | SI | SI | NO | NO | NO | NO | NO | NO | NO |
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FOB – Free On Board
DETAILED DESCRIPTION / RIGHTS AND DUTIES
FOB is a term used in sea freight, and means that the seller pays for transportation of the goods to the port of shipment, plus loading costs, and shall bear any costs for obtaining export licences and documents from the country of origin and those for customs export operations.
The buyer pays the cost of marine freight transport, insurance, unloading, and transportation from the arrival port to the final destination. The passing of risks occurs when the goods are loaded on board at the port of shipment.
The term is always used in conjunction with a port of loading (for example, FOB Genoa). Even if no longer in use, the terms FOR – Free on Rail and FOT – Free on Truck, for rail and road transport, respectively, derived from this term.
In the case of rail transport, road transport and air transport, the equivalent term is Free Carrier (FCA).
