Next, let’s look at collect vs prepaid. 'Fall Out Boy' is one option -- get in to view more @ The Web's largest and most authoritative acronyms and abbreviations resource. The concept of FOB is important to understand for a handful of reasons. In contrast, freight prepaid is when the shipper or seller pays all shipping costs, including damage and loss expenses. For the purpose of simplicity, it doesn’t matter which term you use. Freight collect also assumes that the receiver is responsible for handling damage and loss claims. Any vendor-client transaction should have the FOB terms spelled out very clearly in purchase orders.
That acronym is used in commerce to mean that goods don’t have to be paid for at the time of shipment. Acronym Finder, All Rights Reserved. The acronym FOB, which stands for "Free On Board" or "Freight On Board," is a shipping term used in retail to indicate who is responsible for paying transportation charges.

We're doing our best to make sure our content is useful, accurate and safe.If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly. It is the location where ownership of the merchandise transfers from seller to buyer. STANDS4 LLC, 2020. Examples: NFL, Feedback, The World's most comprehensive professionally edited abbreviations and acronyms database, Forbes Field (Topeka, Kansas airport code), Forum Odpowiedzialnego Biznesu (Polish: Responsible Business Forum), Fans of Barbaro (thoroughbred race horse), Fellowship of Believers (gaming environment), Fresh Off the Beehangee (Korean for airplane), Friend of Bill Wilson (Alcoholics Anonymous), Fédération Officielle de Blindtest (French band), Front of (sound) Board (concert sound systems). The base may be used for an extended period of time.

Get low rates from top carriers, free rebill audits, national and regional coverage, and much more. However, that term is only coincidentally similar. Get instant explanation for any acronym or abbreviation that hits you anywhere on the web. Matthew Hudson wrote about retail for The Balance Small Business, and has almost three decades of experience in the retail industry. In North America, FOB is written into a sales agreement to determine where the liability responsibility for the goods transfers from the seller to the buyer. …but what does that mean? Postal codes: USA: 81657, Canada: T5A 0A7, Your abbreviation search returned 78 meanings, showing only Military and Government definitions (show all 78 definitions), Note: We have 105 other definitions for FOB in our Acronym Attic, Search for FOB in Online Dictionary Encyclopedia, The Acronym Finder is Looking for the definition of FOB?
. The next few sections of this guide should help answer that question. This ultimately impacts the cost of goods. Free on board is the official term used when referencing FOB. FOB terms of sale establish which party (vendor or retailer) will be liable for the transportation costs, which party is in control of the movement of the goods, and when (date/time) the title passes to the buyer. In most cases, the freight hauler or delivery company (such as FedEx, UPS, Conway) is not involved, but in some instances, the freight hauler is liable as well.

There are two possibilities: "FOB origin", or "FOB destination". Web.

This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Examples: NFL,

It’s common practice for the receiver of a shipment to refuse delivery if damages are visually present. By continuing, you consent to our use of cookies.


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