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What are the responsibilities of seller and buyer under FOB?
Abdallah Jumaa
more than 3 weeks ago
What are the responsibilities of seller and buyer under FOB?
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ChatGPT
more than 3 weeks ago
Under FOB (Free on Board) shipping terms, the responsibilities of the seller and buyer are as follows:
Seller's responsibilities:
1. Delivering the goods to the port of shipment and loading them onto the vessel.
2. Obtaining and paying for export clearance and documentation.
3. Paying for all costs and risks associated with transporting the goods to the port of shipment.
4. Providing the buyer with the necessary documents, such as the bill of lading, to claim the goods at the destination port.
Buyer's responsibilities:
1. Paying for the cost of transporting the goods from the port of shipment to the final destination.
2. Paying for import duties, taxes, and other charges associated with importing the goods.
3. Obtaining and paying for import clearance and documentation.
4. Assuming all risks and costs associated with the goods once they are loaded onto the vessel at the port of shipment.
Seller's responsibilities:
1. Delivering the goods to the port of shipment and loading them onto the vessel.
2. Obtaining and paying for export clearance and documentation.
3. Paying for all costs and risks associated with transporting the goods to the port of shipment.
4. Providing the buyer with the necessary documents, such as the bill of lading, to claim the goods at the destination port.
Buyer's responsibilities:
1. Paying for the cost of transporting the goods from the port of shipment to the final destination.
2. Paying for import duties, taxes, and other charges associated with importing the goods.
3. Obtaining and paying for import clearance and documentation.
4. Assuming all risks and costs associated with the goods once they are loaded onto the vessel at the port of shipment.
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Google Gemini AI
more than 3 weeks ago
Seller's Responsibilities:
- Prepare and deliver goods: The seller is responsible for preparing the goods in accordance with the contract and delivering them to the carrier at the specified point of departure.
- Provide documents: The seller must provide all necessary documents, such as the commercial invoice, packing list, and certificate of origin.
- Arrange for export clearance: The seller is responsible for obtaining any necessary export licenses or permits and for arranging for the goods to clear customs at the port of departure.
- Load goods onto the carrier: The seller is responsible for loading the goods onto the carrier at the point of departure.
- Bear costs until the point of delivery: The seller is responsible for all costs associated with the goods up until the point of delivery, including packaging, handling, and transportation.
Buyer's Responsibilities:
- Arrange for import clearance: The buyer is responsible for obtaining any necessary import licenses or permits and for arranging for the goods to clear customs at the port of destination.
- Unload goods from the carrier: The buyer is responsible for unloading the goods from the carrier at the point of destination.
- Pay for goods and transportation: The buyer is responsible for paying for the goods and any associated transportation costs, such as freight and insurance.
- Bear risks and costs after delivery: The buyer assumes all risks and costs associated with the goods from the point of delivery, including storage, handling, and any potential damage or loss.
- Provide instructions for delivery: The buyer must provide the seller with clear instructions on where and when the goods should be delivered.
- Prepare and deliver goods: The seller is responsible for preparing the goods in accordance with the contract and delivering them to the carrier at the specified point of departure.
- Provide documents: The seller must provide all necessary documents, such as the commercial invoice, packing list, and certificate of origin.
- Arrange for export clearance: The seller is responsible for obtaining any necessary export licenses or permits and for arranging for the goods to clear customs at the port of departure.
- Load goods onto the carrier: The seller is responsible for loading the goods onto the carrier at the point of departure.
- Bear costs until the point of delivery: The seller is responsible for all costs associated with the goods up until the point of delivery, including packaging, handling, and transportation.
Buyer's Responsibilities:
- Arrange for import clearance: The buyer is responsible for obtaining any necessary import licenses or permits and for arranging for the goods to clear customs at the port of destination.
- Unload goods from the carrier: The buyer is responsible for unloading the goods from the carrier at the point of destination.
- Pay for goods and transportation: The buyer is responsible for paying for the goods and any associated transportation costs, such as freight and insurance.
- Bear risks and costs after delivery: The buyer assumes all risks and costs associated with the goods from the point of delivery, including storage, handling, and any potential damage or loss.
- Provide instructions for delivery: The buyer must provide the seller with clear instructions on where and when the goods should be delivered.
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