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LSDefine

Simple English definitions for legal terms

free on board

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A quick definition of free on board:

Free on board (FOB) is a term used in business contracts for buying and selling goods. It means that the seller is responsible for getting the goods ready for export, and the buyer is responsible for arranging transportation. When the goods pass the transporter's rail, the seller's delivery is complete, and the buyer takes on the risk of loss. The buyer is also responsible for paying all transportation costs.

A more thorough explanation:

Definition: Free on board (FOB) is a term used in business contracts that outlines the responsibilities of the buyer and seller regarding the delivery, payment, and risk of loss of goods. The seller is responsible for clearing the goods for export, while the buyer arranges for transportation. The seller's delivery is considered complete when the goods pass the transporter's rail, and the buyer is responsible for all costs of carriage.

Example: A company in China sells 1000 widgets to a company in the United States. The contract states that the terms are FOB Shanghai. This means that the Chinese company is responsible for clearing the widgets for export and delivering them to the port in Shanghai. Once the widgets are loaded onto the ship, the delivery is considered complete, and the risk of loss passes to the US company. The US company is responsible for all costs of transportation from Shanghai to their warehouse.

Explanation: This example illustrates how FOB works in an international business transaction. The Chinese company is responsible for getting the widgets to the port, but once they are loaded onto the ship, the US company takes over responsibility for the goods. This means that if anything happens to the widgets during transportation, the US company is responsible for any losses or damages.

free of all average | free port

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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