Free on Board (FOB) Explained: Who's Liable for What in Shipping?
Free on Board (FOB) Explained: Who's Liable for What in Shipping?
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In FOB (Free On Board) terms, the buyer is responsible for insurance. Here's a quick breakdown: Seller's responsibility ends once the goods are loaded on the vessel at the port of shipment. From that point onward, the buyer bears all risks, including insurance, freight, and any damage or loss during transit. So, under FOB, if the buyer wants to protect the goods during sea transport, they must arrange and pay for marine insurance. #harshdhawan #export #import #business #exportexpertsglobal #indi
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