FOB destination
FOB destination is a shipping term that stands for Free On Board destination. It means that the seller is responsible for all costs and risks associated with delivering goods to a specific destination. Once the goods reach the destination, ownership and liability transfer to the buyer. This term is often used in international trade to specify the point at which the buyer takes responsibility for the goods.
For example, if a company in Poland purchases goods from a supplier in China on FOB destination terms, the seller is responsible for shipping the goods to the specified destination in Poland. Once the goods arrive in Poland, the buyer takes ownership and liability for the goods.
It is important to understand the terms of the FOB destination agreement, as it can impact the overall cost and risk associated with the transaction. Buyers and sellers should clearly define the destination and responsibilities in the contract to avoid any misunderstandings.
Overall, FOB destination is a common shipping term used in international trade to specify when ownership and liability transfer from the seller to the buyer. It is important for both parties to understand their responsibilities and obligations under this agreement.
For more information on FOB destination, you can visit Wikipedia.