What is the difference between FOB and ex factory?
What Do EXW and FOB Stand for? EXW stands for Ex Works, an incoterm whereby the buyer of a shipped product pays for the goods when they are delivered to a specified location. FOB, or Free on Board, instead shifts the responsibility of the goods to the buyer as soon as they are loaded onboard the ship.
What is FOB pricing?
The f.o.b. price (free on board price) of exports and imports of goods is the market value of the goods at the point of uniform valuation, (the customs frontier of the economy from which they are exported).
What is FOB price on Alibaba?
What is the Incoterm “Free on Board” (FOB)? Free on Board (FOB) is an Incoterm which dictates the shared responsibility between buyer and seller. A standard FOB arrangement states that the responsibility for the goods remains with the seller as far as the port selected for shipping.
Is FOB door to door?
The fob, short for Free On Board, is instead a shipment called “port to door”, that is, from the port of embarkation to the port of delivery and is only valid for shipments by sea.
What is FOB on Alibaba?
Free on Board (FOB) is an Incoterm which dictates the shared responsibility between buyer and seller. A standard FOB arrangement states that the responsibility for the goods remains with the seller as far as the port selected for shipping.
What is FOB shipping?
Free On Board
First of all, FOB – or F.O.B. – stands for Free On Board. It is the point in the supply chain where the seller relinquishes ownership, and the buyer accepts ownership of products purchased in a specific transaction.
How do I ship a FOB from China?
The further clarify, let’s track the FOB shipping process:
- You purchase goods from a supplier in China and agree to FOB shipping terms.
- Your goods are packaged and loaded onto a truck (or another form of transportation) at the supplier’s warehouse (or another facility).
- The truck brings the goods to the port.