- Vietnamese
- Giao hàng lên tàu
- English
- Free on board
- Abbreviation
- FOB
- Synonyms
- incoterms
Definition
Seller delivers goods on board the vessel nominated by the buyer at the port of shipment; buyer bears freight and insurance.
Explanation
When buying FOB, add international freight and insurance to determine the import customs value. FOB is also the basis for RVC.
Example
FOB Busan.