One of several standard terms used in contracts of sale to indicate responsibility
for damage to goods during shipment. When goods are shipped FOB, the seller's
responsibility ends when a carrier takes possession of them, or, with respect
to ocean shipments, when the merchandise is placed safely aboard the vessel
or when an on board bill of lading has been issued. The buyer is responsible
for insuring the goods from that point on. See also
Cost, insurance, and freight.
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