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FAQ's Incoterms Explained
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What is FOB (Free On Board)？
The seller delivers the goods on board the ship nominated by the buyer at the named port of shipment. The risk passes to the buyer once the goods are on board the ship.
What is FAS (Free Alongside Ship)？
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What is CFR (Cost and Freight)？
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What is CIF (Cost, Insurance, and Freight)
Similar to CFR, but the seller also pays for insurance. The risk transfers to the buyer once the goods are on board the ship, but the seller must provide insurance coverage.
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