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f.o.b.
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f.o.b.

Abbreviation for free-on-board, the value of exports when they are placed on a ship, aeroplane, or lorry to leave a country, and which includes costs of production and transport to the embarkation point. It does not include the costs of freight and insurance in getting the goods to their destination. The term contrasts with c.i.f. (cost, insurance, and freight), or the value of goods at arrival at a foreign port.
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Customs value imports at the higher CIF price, which includes cost, insurance and freight, while exports are valued at the lower free on board (FOB) price, the official was quoted as saying.
aiwan current account slightly positive in 1st qtr by Asian Economic News
 
 
 
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