Hi
Can anyone pls explain these two terms to me?
1. FOR price
2. FOB value
Menu
FOR price
Replies (3)
Free on Board (F.O.B.):
Under this term, the price of the good quoted by a seller includes transport, insurance and loading costs incurred until the merchandise is loaded on board the ship. The seller fulfils his obligations when the goods are boarded (i.e. have passed over the ship’s rail) at the named port of shipment. The buyer has to bear all costs and risks of loss or damage arising from the point of loading. The term FOB can only be used for sea or inland waterway transport.
FOR mean "Free on Rail" There is another term FOT "free on truck" These terms are synonymous since the word "truck" relates to the railway wagons. These terms are used when the goods are to be carried by rail.
Under this term, the price of the good quoted by a seller includes transport, insurance and loading costs incurred until the merchandise is loaded on board the ship. The seller fulfils his obligations when the goods are boarded (i.e. have passed over the ship’s rail) at the named port of shipment. The buyer has to bear all costs and risks of loss or damage arising from the point of loading. The term FOB can only be used for sea or inland waterway transport.
FOR mean "Free on Rail" There is another term FOT "free on truck" These terms are synonymous since the word "truck" relates to the railway wagons. These terms are used when the goods are to be carried by rail.
Good explained
Thanks Mohit
Recent Topics :
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
Related Topics :
CAclubindia
