What is the delivery terms: FOB MERSIN PORT stand for and what it means?
Answers:
FOB = Freight On Board
In accounting, this means that the ownership of the merchandise changes hand at the specified destination.
If you are shipping out from Mersin Port, once the shipment leaves Mersin Port, the shipper no longer owns the merchandise and the responsibility belongs to the receiver.
In addition, this means that as soon as the goods is shipped, the seller can book the revenue. Technically, they have sold the goods and no longer own it.
If you are shipping to Mersin Port, then the shipment will be the shipper's reponsibility until it reaches the destination and is received by the receiver. In this case, the shipper would usually want to insure the merchandise to protect himself.
As for revenue, the seller can not book the sale until the borrower takes receipt of the shipment.
It stands for "Free on Board" Mersin Port
It means the shipper will get the items to this port and you pay for and arrange all shipping and insurance from that point.
If you want the shipper to arrange shipping, specify "CIF" - Cost, Insurance and Freight". The shipper will give you a price that includes these costs.
It means they will put it on the ship or train at Mersin Port as part of the price you pay. But you have to pay for the transportation.
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