Freight prepaid is a notation on bills that ensures purchasers of goods should not pay the carriers. It cites the case between Molson Brewery and its supplier Consumers Glass against its truckers. Molson's defense is that it had not received invoices from the truckers and had never been ...
Freight logistics is your ticket to moving large shipments over long distances, whether you’re bringing in products from overseas or distributing them across regions. It involves multiple forms of transportation – like trucks, ships, and planes – and includes crucial services like freight forwarding...
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FOB destination, freight collect and allowed: The “and allowed” phrase means the seller adds shipping costs to the invoice, and the buyer agrees to pay that cost even if the seller coordinates and manages the shipment. Even though the buyer ultimately pays for the shipmen...
BBX shipping caters to a specific type of cargo; that which is unsuitable for containerization due to size, weight, or unconventional shape. This freight includes items like heavy oil and gas equipment, oversized vehicles, and even airplane parts. Essentially, if it's too large, h...
What does FOB mean in shipping? FOB stands for “free on board” or “freight on board” and is a designation that is used to indicate when liability and ownership of goods is transferred from a seller to a buyer. Understanding FOB is crucial for small businesses as it affects who is re...
marginis the proportion of money left over from revenues after accounting for the cost of goods sold (COGS). COGS measures the cost of raw materials and expenses associated directly with creating the company’s primary product, not includingoverheadcosts such as rent, utilities, freight, or ...
What Is the Difference Between CIF and FOB? CIF stands for Cost, Insurance and Freight, whereas FOB stands for Free on Board. Both CIF and FOB are agreements used for international shipping when products are transported between a seller and buyer. The main difference between CIF and FOB is ...
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Some contracts also use the words "allowed" or "charged back." If the deal is "FOB collect and allowed," the buyer pays the freight but deducts the cost from the invoice. For "prepaid and charged back," the seller pays the shipping cost, but adds a fee to the invoice. ...