FOB value
[ɛf-oʊ-bi ˈvæl.juː]
nounpl: FOB values
valor FOB
1. The value of goods at the point of shipment, including the cost of the product plus freight and insurance charges up to the port of loading, but excluding costs after the goods are loaded onto the vessel
The FOB value of the shipment was $50,000, covering the merchandise and transportation to the port.
O valor FOB do envio era de $50.000, cobrindo a mercadoria e o transporte até o porto.
2. In international trade, the agreed price at which the seller delivers goods alongside the vessel at the port of shipment, with the buyer assuming responsibility and costs thereafter
We negotiated the FOB value to ensure transparency in the export transaction.
Negociamos o valor FOB para garantir transparência na transação de exportação.
FOB value is a fundamental concept in international trade and customs procedures, particularly important in Brazil's significant export sector. The term is essential for determining import duties, insurance coverage, and responsibility transfer in international commerce. Understanding FOB valuation is critical for exporters and importers navigating bilateral trade agreements and regulatory compliance.
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