Free alongside ship (FAS)
Free alongside ship (FAS) is an international trade term used in shipping to indicate that the seller is responsible for delivering the goods alongside a designated vessel at the port of shipment. Once the goods are placed alongside the ship, the buyer becomes responsible for all costs and risks associated with the transportation of the goods.
For example, if a seller agrees to deliver goods FAS New York, they are responsible for delivering the goods to the port of New York and placing them alongside the ship designated by the buyer. Once the goods are loaded onto the ship, the buyer takes over responsibility for the goods and any costs or risks associated with their transportation to the final destination.
It is important for both buyers and sellers to clearly understand the terms of the FAS agreement to avoid any misunderstandings or disputes during the shipping process.
Benefits of using FAS:
- Clear division of responsibilities between buyer and seller
- Cost-effective shipping option for buyers
- Allows for greater flexibility in shipping arrangements
Overall, FAS is a common and widely used trade term that helps to facilitate international trade by clearly defining the responsibilities of both buyers and sellers in the shipping process.
For more information about Free alongside ship (FAS), please visit Wikipedia.