Free On Board (FOB)

Free On Board means that the seller delivers the goods on board the vessel named by the buyer at the named port of shipment or procures the goods already so delivered. The risk of loss or damage to the goods passes when the goods are on board the vessel. The buyer shall bear all costs from that moment on.

This term is related to Incoterms. Global Freight Connections Limited has provided more information HERE (“here” will linked to the GFC Incoterms)