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"You said that we should be free on board."
FOB - Free on Board (named port of shipment)
The most common is a commission based on the free on board ("FOB") cost of the products sourced as negotiated with the client.
Free on board (FOB)
When it should be added depends on the Free On Board (FOB) policy of the trade.
Many times they are sold free on board Miami for less than the cost of getting flowers from Miami to the final U.S. destination.
Under an FOB ('free on board') sale contract the bill of lading determines if either the seller or the buyer is named as the shipper.
Free On Board (FOB)
Free on board (FOB)-the exporter delivers the goods at the specified location (and on board the vessel).
Depending on specific usage, it may stand for Free On Board or Freight On Board.
Where a business sells Free on Board (FOB) but arranges the transport and passes the cost on to the buyer in a separate contract.
FOB origin (Free on Board origin) - The shipping cost from the factory or warehouse is paid by the purchaser.
Free on board - named port of shipment - the seller delivers the goods when they pass the ship's rail at a named port of shipment.
The song "Detroit" contains the lyric "F.O.B. Detroit" (free on board).
In July 2009, the Airporter fleet claimed to provide the first free on board wifi service in any coach fleet in Northern Ireland.
International shipments typically use "FOB" as defined by the Incoterm standards, where it always stands for "Free On Board".
The value of this coffee is more than $65 million, based on an average Free On Board price for Indonesia specialty coffee of $3,200 per metric ton.
In the case of an FOB (Free On Board) sale, the determination of the energy transferred and invoiced for will be made in the loading port.
Equally disadvantaged will be those United States exporters for whom transportation forms a large percentage of their f.o.b. (free on board export ship) costs, such as rice, grain and coal producers.
Under the Incoterm standard published by the International Chamber of Commerce, FOB stands for "Free On Board", and is always used in conjunction with a port of loading.
When you agree the terms of a contract, it is advisable to use one of 11 International Commercial Terms (Incoterms 2010) - eg Free on Board or Cost Insurance Freight.
Adding net exports of services and net transfers to the merchandise trade balance, with imports measured free on board (f.o.b.), rather than as customs, insurance, and freight (c.i.f.), gives the balance on current account.
Pearson J. was considering a contract where the seller had agreed to despatch goods f.o.b. (free on board) a ship, i.e. the seller undertook to convey the goods to the ship and to load them.
There are numerous causes for this, such as measuring imports on a cost, insurance and freight basis while measuring exports on a free on board basis, or statistical errors occurring when imports are more closely recorded than exports.
Previously, under the Uniform Commercial Code, both "FOB origin" and "FOB destination" left the seller responsible for paying costs of loading goods on board the carrier; hence "Free On Board".