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FOB (Free On Board) is a term in international commercial law specifying at what point the seller transfers ownership of the goods to the buyer. Under the Incoterms 2010 standard published by the International Chamber of Commerce, FOB is only used in non-containerized sea freight, and also defines ownership transfer.
8 years ago. Rating: 3 | |
I thought it meant "fresh off the boat" as an immigrant or tourist. :-0
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