On: September 15, 2021 By: David Noah
Incoterms 2020 FOB: Spotlight on Free On Board
Under the Incoterms 2020 rules, Free On Board (FOB) means the seller has fulfilled its obligation when the goods are loaded on the vessel nominated by the buyer. This term should only be used for sea and inland waterway transport and usually only for non-containerized bulk cargo, such as oil or grain.