What is the Full Form of FOB?

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FOB Full Form is Free On Board. This is an American term, which is also used in International Commercial Law. It is the transportation term related to the shipping of goods and indicates that the price quoted by the seller includes the charges of transferring goods from the production unit to a ship at a port as mentioned by the buyer. After the dispatch of the goods the buyer is solely responsible for any loss or damage of the products. It is immensely related to the ownership transfer of goods.

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