Asked by Alejandro Bernal on May 07, 2024
Verified
When Malik shipped his goods he shipped it as "FAS." This shipping term stands for what?
A) Free as Shipped
B) Fee as Selected
C) Formal and Select
D) Free Alongside
E) Founder and Stamped
Shipping Term
Conditions included in a contract that define the responsibilities, costs, and risks involved in the delivery of goods from the seller to the buyer.
Free Alongside
In shipping, a term indicating that the seller is responsible for the cost of transporting goods to a designated point next to a vessel before loading.
- Examine the significance of shipping terms like FAS (Free Alongside Ship) and their implications for risk and cost allocation between buyers and sellers.
Verified Answer
EA
ernie arandaMay 12, 2024
Final Answer :
D
Explanation :
"FAS" stands for Free Alongside Ship, meaning the seller delivers when the goods are placed alongside the vessel on the quay or in lighters at the named port of shipment. This term is used in maritime transport.
Learning Objectives
- Examine the significance of shipping terms like FAS (Free Alongside Ship) and their implications for risk and cost allocation between buyers and sellers.