free on board (FOB)
Definition:
Term used in foreign trade contracts where the price quoted by the exporter for goods includes all charges up to the point of embarkation. It is compared with COST, INSURANCE, FREIGHT (CIF), where the price quoted includes all charges up to the point of delivery.
Cross-References:
[cost, insurance, freight (CIF)]
Links:
Figures:
© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Margaret D. Potts and Michael J. Baker],.