FOB

FOB (Free On Board) is an important term in international trade and logistics, particularly in the context of international marketing management. It refers to an agreement between the buyer and seller that specifies the point at which the responsibility and costs associated with the goods are transferred from the seller to the buyer. In an FOB agreement, the seller's responsibility ends once the goods are loaded onto the shipping vessel at the port of origin. From that point onward, the buyer assumes the risk and cost for transportation, insurance, and handling.

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