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Has anyone experienced using FOB?
Has anybody of you here experienced using FOB? If the supplier is from china? Can somebody expound this one? I've watched some tutorials/explanations in youtube but it's still confusing. I want to know maybe some of you here have experience? I prefer to listen here than youtube. 😂
Thank youu. ❤️
3 Replies
In acctg, FOB means freight on board. 2 types are FOB shipping in which freight+value of the material is paid upon shipping sa product. So seller paid it. This would be the case sa ga online sell with payment first policy. 2nd type is FOB destination, the buyer pays the freight and material as soon as received or sent to its destination. This is the case sa COD orders. I hope this helps.
FOB to which port? You need to ask your Freight Forwarder first.
Then you can inform your supplier that you need FOB price to this port.
Another option is get EXW and let your freight forwarder handle the pickup as well.
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