Trade Terms                                 

From the point where the shipment begins movement, e.g., "Ex Factory" "Ex Mine" or "Ex Warehouse." See "Terms of Sale."

(From dock.) Seller owns goods until they are unloaded on dock at port of discharge; selling price includes all costs so far plus cost of unloading from vessel.

Seller owns goods until they are picked up at his factory; selling price is the cost of the goods.

Trade Terms                                 

(Free alongside steamer.) Seller owns goods until they are delivered alongside vessel; selling price includes all costs so far plus cost of transportation to dock.

Free of Capture & Seizure - Clause excluding war risks from the Marine Policy; war risks can be covered by issuing a separate War Policy with an additional premium being charged.

(Free on board truck.) Seller owns goods until they are loaded on truck at his factory; selling price includes all costs so far plus cost of loading on truck.

(Free on board vessel.) Seller owns goods until they are loaded on vessel; selling price includes all costs so far plus cost of loading on vessel.

(Free on board warehouse.) Seller owns goods until they are delivered to buyer's warehouse at final destination; selling price includes all costs so far plus transportation to final warehouse.

If a merchant sells on F.O.B., F.A.S., C&F or similar terms, it is the buyer's responsibility to place the insurance.

The title of a standard clause in marine contracts exempting the parties for non-fulfillment of their obligations as a result of conditions beyond their control, such as earthquakes, floods, or war.

A port designated by the government of a country for duty-free entry of any non-prohibited goods. Merchandise may be stored, displayed, used for manufacturing, etc., within the zone and reexported without duties being paid. Duties are imposed on the merchandise (or items manufactured from the merchandise) only when the goods pass from the zone into an area of the country subject to the Customs Authority. Also called FOREIGN TRADE ZONE

The money charged by the carrier for transporting goods.