FOB origin
FOB origin, or Free On Board origin, is a term used in international trade to indicate that the seller is responsible for the goods until they are loaded onto a vessel at the specified port of shipment. Once the goods are loaded onto the vessel, the buyer assumes responsibility for the goods and any additional costs associated with transportation.
For example, if a company in Finland is purchasing goods from a supplier in China on FOB origin terms, the supplier is responsible for the goods until they are loaded onto the vessel in China. Once the goods are on the vessel, the buyer in Finland assumes responsibility for the goods and any costs associated with transporting them to Finland.
It is important for both the buyer and the seller to clearly understand the terms of the FOB origin agreement, as it can impact the cost and risk associated with the transportation of goods. By clearly defining the responsibilities of each party, FOB origin terms help to ensure a smooth and efficient transaction.
For more information on FOB origin, you can visit Wikipedia.