FOB shipping point (or FOB factory) implies that ownership of goods transfers to the buyer at the buyer's place of business.

Question

Quizplus · Accepted Answer

FOB shipping point (or FOB factory) implies that ownership of goods transfers to the buyer at the point of shipment or when the goods leave the factory. Therefore, the buyer is responsible for the transportation costs and bears the risk of loss or damage during shipment.

FOB Shipping Point (Or FOB Factory) Implies That Ownership of Goods