"FOB" was originally an ocean-freight acronym. Once the freight passed beyond this boundary of the ship's rail and moved onto the vessel, the seller had completed all of its delivery obligations to ...

Incoterms® are a set of three-letter trade terms developed by the International Chamber of Commerce for shipping freight and determining the point of risk of loss from the seller to the buyer.

The term CIF stands for cost, insurance and freight. It is a common term for international shipments, and many nations use the CIF total as the basis for the duty charge or other taxes on the ...

Delivery terms aren’t just legal fine print—they are strategic terms that can drastically shift the costs and obligations between the parties to a contract, especially when tariffs are involved. This ...

Northwestern's standard shipping terms are DDP (Delivered Duty Paid). This provides the most protection to the University as it transfers risk to the University upon delivery. Various shipping terms ...