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What does FOB stand for? By Preston Wily When you first try importing products from China (or any part of the world), you will be faced with payment terms that you may not understand. FOB is probably the most popular payment term you will face so you should understand what it means. FOB stands for "free on board" - basically it means that the manufacturer (or trading company) will deliver the goods to a port at their expense and it is your job to pay for the shipment from the port to your location. One important thing to understand is that when you are shipping FOB you are actually taking "ownership" of the inventory as soon as it is delivered to the port. So if your products are lost in transit, you are responsible. For this reason you will want to insure your inventory (most freight carriers offer some degree of protection).

Contributed by pwily on July 27, 2009, at 5:46 PM UTC.

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