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free on board

   Also found in: Medical, Legal, Financial, Acronyms, Encyclopedia, Wikipedia, Hutchinson 0.01 sec.
free on board
adj. & adv. Abbr. FOB
Without charge to the purchaser for delivery on board or into a carrier at a specified point or location.

free on board
adj
(Business / Commerce) (of a shipment of goods) delivered on board ship or other carrier without charge to the buyer Compare free alongside ship Abbreviations FOB f.o.b


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Customs value imports at the higher CIF price, which includes cost, insurance and freight, while exports are valued at the lower free on board (FOB) price, the official was quoted as saying.
 
 
 
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