What is the legal definition of Free on Board?

In the legal context, Free on Board means The term, or its abbreviation “f.o.b.”, is used in a quotation or in a contract between a seller and a buyer of goods to be delivered. The term, which is usually followed by a defined location—often either the sellerÆs or the buyerÆs place of business, means that the seller is responsible for delivering the goods to that defined location and assuming the risk of loss until then.

 

What Our Customers Have to Say

Join
the Fitter Law Legal Subscription Plan
for as little as $25 per month

New User Registration (#26)

CAUTION

Unfortunately, our attorneys only provide legal services in Illinois at this time.  Though you may continue to use this website at your own risk, you may not receive any legal advice or services from Fitter Law, unless it includes matters that are either related to Federal matters or occur within the state of Illinois.

 

 

CONTINUE

 

Fitter Law covers legal issues throughout Illinois on various business transaction and litigation matters.