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APPENDIX F TECHNICAL REQUIREMENTS.1. SHIPPING Teamsters of Sale Responsibility for Freight Cost and Transit Risk F.O.B. Destination, freight prepaid and included Seller Pays freight charges Seller
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Selection of FOB terminology refers to the process of determining the specific Free on Board (FOB) terms that govern the shipping and delivery responsibilities between the buyer and seller.
Typically, both buyers and sellers involved in international shipping or trade transactions are required to file the selection of FOB terminology.
To fill out selection of FOB terminology, parties must specify the location where ownership and risk transfer takes place, select the appropriate terms, and include relevant shipment details.
The purpose of selection of FOB terminology is to clearly define the obligations and responsibilities of each party in a transaction, particularly concerning the shipping process and risk management.
Information that must be reported includes the shipping point, delivery terms, liability transfer points, and any specific agreements made between the buyer and seller.
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