FOB Export Full Form In English
FOB Export stands for Free on Board Export. It is an international trade term used in shipping and logistics. In FOB Export, the seller is responsible for delivering the goods to the port of shipment and loading them onto the vessel. Once the goods are on board, the risk and cost transfer from the seller to the buyer. This term helps in defining the responsibilities, costs, and risks between the exporter and importer.
FOB Export Full Form In Hindi
FOB Export का मतलब फ्री ऑन बोर्ड एक्सपोर्ट होता है। इसमें विक्रेता (सेलर) माल को शिपिंग पोर्ट तक पहुँचाने और जहाज पर लोड करने का जिम्मेदार होता है। जैसे ही माल जहाज पर लोड हो जाता है, जोखिम और खर्च खरीदार (बायर) पर स्थानांतरित हो जाते हैं। यह नियम अंतरराष्ट्रीय व्यापार में लागत और जिम्मेदारी को स्पष्ट करता है।
Read More: ICA Full Form In English And Hindi
Frequently Asked Questions
What does FOB Export mean?
FOB Export stands for Free on Board Export, which means the seller delivers goods to the port and loads them onto the ship. After that, the risk and cost are transferred to the buyer.
Who is responsible for shipping under FOB Export?
The seller is responsible for transporting the goods to the port of shipment and loading them onto the vessel. The buyer is responsible for all costs and risks once the goods are on board.
Does FOB Export include insurance?
No, FOB Export does not automatically include insurance. The buyer may need to arrange insurance for the goods after they are loaded onto the ship.
Is FOB Export used in international trade?
Yes, FOB Export is commonly used in international trade to clarify the responsibilities and costs between sellers and buyers.
What costs are covered by the seller under FOB Export?
The seller covers the cost of goods, transportation to the port, and loading onto the ship. The buyer covers shipping, insurance, and import duties.
When does the risk transfer from seller to buyer?
The risk transfers from the seller to the buyer as soon as the goods are loaded onto the ship at the port of shipment.
Conclusion
FOB Export, or Free on Board Export, is an important term in international trade that clearly defines the responsibilities, costs, and risks of both the seller and the buyer. Under FOB Export, the seller handles delivery to the port and loading onto the ship, while the buyer takes responsibility for transportation, insurance, and import duties after the goods are on board. Understanding FOB Export helps businesses avoid confusion and ensures smooth international shipping transactions.
