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In FAS the seller clears the goods for export and delivers them alongside side the vessel nominated by the buyer at port of origin. This means that the seller is responsible for all costs and risks to the goods up to point of delivery. This term applies only for ocean or inland waterway ports.
3 Ιουλ 2024 · One such Incoterm is FAS (Free Alongside Ship), a crucial term for businesses engaged in sea freight. This comprehensive guide will delve into the intricacies of FAS, exploring its implications for costs, risks, and responsibilities for both buyers and sellers.
The FAS (Free Alongside Ship) Incoterm is one of the classic trade clauses that were part of the first Incoterms in 1936. Like FOB, CFR and CIF, FAS is only suitable for sea or inland waterway transport.
The FAS Incoterm or “Free Alongside Ship” is an Incoterm that is exclusive to ocean freight shipping. Under FAS, the seller must deliver the goods alongside the ship at the port dock and is responsible for all costs and risks until the goods have been placed at the dock.
The Incoterm FAS or Free Alongside Ship means that the seller is obliged to get the goods cleared for export, packed and ready for loading onto the vessel at the port of origin. Following FAS shipping terms, the buyer must pay for the loading services and the freight transport.
FAS (Free Alongside Ship) is an Incoterm used in international trade that defines the obligations of the seller and buyer when shipping goods by sea or inland waterway. Under FAS, the seller delivers the goods alongside the buyer’s vessel at the named port of shipment.
29 Αυγ 2022 · Free Alongside Ship (FAS) is a term used in international trade to describe a pricing agreement whereby the seller is responsible for delivering the goods to the port of shipment, at which point the buyer takes over responsibility for transportation costs.
