The price quoted which includes the cost of insurance, freight and all delivery charges to the importer’s warehouse is?
-
A.
Free Alongside Ship -
B.
Franco -
C.
Free On Board -
D.
Free On Rail
Correct Answer: Option C
Explanation
Free On Board, in short FOB, is a term frequently used in shipping terms where the seller quotes a price including the cost of delivering goods to the nearest port. In simple terms, FOB price means the buyer has to bear the shipping costs completely.