What is “FOB”?

FOB stands for Free on Board. FOB is an indicator that shows when ownership of a package is transferred from a seller to the buyer. This conveys the transportation of the goods and the cost of loading to the port of shipment.

What is a Bill of Lading?

A bill of lading is a form that details the journey of a shipment. It identifies the commodity, serves as a receipt, and functions as a legally binding contract between the carrier and shipper.