CAgrrl
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posted on October 4, 2001 09:53:40 AM new
What is "FOB"? Just wondering. Thanks!
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mrpotatoheadd
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posted on October 4, 2001 10:00:47 AM new
"FOB" = "free on board"
http://www.law.cornell.edu/ucc/2/2-319.html
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donny
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posted on October 4, 2001 10:06:34 AM new
FOB stands for Freight on Board. It means that the person shipping the thing to you pays for the shipping only up to the point of export. After your freight is put on board (the ship, or whatever), the shipping costs are to be paid by you (i.e. you'll be billed by the carrier for the freight charges)
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mrpotatoheadd
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posted on October 4, 2001 10:13:02 AM new
U.C.C. - ARTICLE 2 - SALES..PART 3.
GENERAL OBLIGATION AND CONSTRUCTION OF CONTRACT
---------------------------------------------
§ 2-319. F.O.B. and F.A.S. Terms.
(1) Unless otherwise agreed the term F.O.B. ( which means "free on board" ) at a named place, even though used only in connection with the stated price, is a delivery term under which...
edited... ubb
[ edited by mrpotatoheadd on Oct 4, 2001 10:14 AM ]
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CAgrrl
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posted on October 4, 2001 10:13:26 AM new
thank you! helpful info. I appreciate it.
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donny
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posted on October 4, 2001 10:24:12 AM new
Heh. Only the U.C.C. thinks it means "Free on Board," but the difference is like whether MUD stands for Multi User Dungeon, or Multi User Dimension. Everyone says "MUD," it's the same thing.
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CAgrrl
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posted on October 4, 2001 10:31:00 AM new
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godzillatemple
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posted on October 4, 2001 10:35:31 AM new
I'm still trying to figure out whether DVD stands for "Digital Video Disc" or "Digital Versatile Disc"...
Barry
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The opinions expressed above are for comparison purposes only. Your mileage may vary....
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deliteful
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posted on October 4, 2001 11:05:15 AM new
Is PC
Politically Correct, Personal Computer, Post Card , or Paper Confetti ?
Jess
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toke
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posted on October 4, 2001 01:30:03 PM new
Mr.P...
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Microbes
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posted on October 4, 2001 02:02:54 PM new
My understanding of the term is that title to the property passes to the buyer as soon as it's been placed with the carrier. In other words, if it's lost or damaged, the seller is not responsable.
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donny
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posted on October 4, 2001 02:49:39 PM new
No, that's not it, Microbes, the phrase is used to define the assignment of costs, who pays what, from where.
Importing is what I do
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Microbes
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posted on October 4, 2001 02:59:20 PM new
From:
http://www.marad.dot.gov/publications/glossary/T.html
- FOB (Free On Board) (...Named Port of Shipment): An International Term of Sale that means the seller fulfills his or her obligation to deliver when the goods have passed over the ship's rail at the named port of shipment. This means that the buyer has to bear all costs and risks to loss of or damage to the goods from that point. The FOB term requires the seller to clear the goods for export.
---------------
Bolding mine.
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Microbes
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posted on October 4, 2001 03:09:07 PM new
Donny, I think you are talking about this:
From:
http://www.marad.dot.gov/publications/glossary/F.html
Free on Board (FOB - U.S. Domestic Use)
Shipped under a rate that includes costs of delivery to and the loading onto a carrier at a specified point.
- FOB Freight Allowed: The same as FOB named inland carrier, except the buyer pays the transportation charge and the seller reduces the invoice by a like amount.
- FOB Freight Prepaid: The same as FOB named inland carrier, except the seller pays the freight charges of the inland carrier.
[ edited by Microbes on Oct 4, 2001 03:10 PM ]
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donny
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posted on October 4, 2001 03:11:25 PM new
Yes, but the focus is assignment of costs, and not risk. And passing of title has nothing at all to do with it.
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donny
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posted on October 4, 2001 03:16:00 PM new
Shrug. I do this, I've done it for years. I studied import export law in school, I've studied the U.C.C. but, more than that, I actually do this in business.
You don't links from here and there. When you're doing importing, it means what I said it means.
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Microbes
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posted on October 4, 2001 03:59:01 PM new
Well, I'm not trying to argue. The link I posted is from The U.S. Department of Transportation's website, which is hardly a "here and there" link when the question posed was about a shipping term.
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donny
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posted on October 4, 2001 04:02:14 PM new
Whatever
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CAgrrl
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posted on October 5, 2001 01:25:32 PM new
will check out all the links posted to see if I can figure out what you guys are talking about. Thanks a lot for posting. I guess I don't feel too bad now that I was confused about it, it seems to be one of those ultra-confusing terms!
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MurphyBird
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posted on October 5, 2001 01:50:10 PM new
I am a computer geek, but when my company(large haircare company) asked me to put FOB on our international invoices, I was given the explanation that Microbes gave.
[ edited by MurphyBird on Oct 5, 2001 01:52 PM ]
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