Explain FAS under Incoterms.

FAS - Free Alongside Ship (Port of Shipment)

 

This term means that the seller delivers when the goods are placed alongside the vessel e.g., on a quay or a barge, at the named port of shipment. The seller is required to clear the goods for export. This means that the seller is responsible for all cost and risk to the goods up to point of delivery. The buyer has to bear all costs & risks of loss or damage to the goods from that moment.

This term can be used for Sea and Inland water transport only.

 

Obligation and expenses of seller:-

All responsibilities and charges should incur by seller include Warehouse Services, Export packing, assistance in obtaining any exports licence or other official authorisation, loading at point of Origin, Origin Inland Freight, Origin Port Charges, Export Customs clearance, Origin Forwarder Fees.

The risk passes to the buyer from the seller when the goods are alongside the ship.

 

Obligation and expenses of Buyer:-

All responsibilities and charges must incurs by Buyer includes Ocean/Air Freight, Destination Port Charges, Import Customs clearance , Import Duties and Taxes, Delivery cartage to Final Destination.

 


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