FOB, Responsibility to bear costs to Buyer and Seller

The INCOTERM FOB (Free on Board)  

The costs distribution to Buyer and Seller under FOB inco term

 

 Q) Under the INCOTERM FOB, who should bear all cost related with Export customs declaration?

 

Answer

 The Seller has to bear all cost related with Export customs declaration if contract is under the INCOTERM FOB.

 

Q) Who has to pay the Carriage to port of export under FOB terms?

 

Answer

The Seller is responsible for paying carriage to port of export under FOB terms.

 

Q) Who is responsible for all the cost for unloading of truck in port of export, in FOB terms?

 

Answer

All the cost for unloading of truck in port of export should be given by the Seller under the INCOTERM FOB.

 

Q) Who is obliged to bear all cost for loading the cargo on vessel/airplane in port of export under FOB terms?

 

Answer

The Seller should pay all cost for loading the cargo on vessel/airplane in port of export under FOB terms.

 

Q) In INCOTERM FOB, who should give money to Carriage (sea/air) to port of import?

 

Answer

In INCOTERM FOB, the buyer should give money to Carriage (sea/air) to port of import.

 

Q) Who should arrange Insurance for the shipment under FOB term?

 

Answer

The buyer has to arrange Insurance for the shipment under FOB term.

 

Q) According to the INCOTERM FOB, all the expenses for unloading the cargo in port of import are whose responsibility?

 

Answer

 The Buyer is responsible for paying all the expenses for unloading the cargo in port of import according to FOB terms of delivery.

 

Q) Under FOB INCOTERM, who should pay for Loading on truck in port of import?

 

Answer

If the contract is under FOB INCOTERM, then the buyer should pay for Loading on truck in port of import.

 

Q) Who is responsible for arranging Carriage to place of destination under FOB terms?

 

Answer

The Buyer is responsible for arranging Carriage to place of destination if the term of delivery is under FOB terms.

 

Q)Who is obliged to settle all cost for Import customs clearance in FOB terms?

 

Answer

All payment settlement for Import customs clearance in FOB terms is obliged with the Buyer.

 

Q) Import duties and taxes should be paid by whom under the FOB INCOTERM.

 

Answer

Import duties and taxes should be paid by the buyer under the FOB INCOTERM.

 

 

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