A contract between two seafood companies specifies "F. A. S. The Mermaid, Fort Lauderdale, FL," and the goods are to be shipped to Anchorage, Alaska. The seller bears the expense and risk of loss until it delivers the goods into the hands of the vessel The Mermaid in Fort Lauderdale. Once this is done, the buyer pays the shipping costs, and the risk of loss passes to the buyer during transport to Anchorage. This scenario is an example of which commonly used shipping term?

Question

Business

Greene

20 September, 02:27

A contract between two seafood companies specifies "F. A. S. The Mermaid, Fort Lauderdale, FL," and the goods are to be shipped to Anchorage, Alaska. The seller bears the expense and risk of loss until it delivers the goods into the hands of the vessel The Mermaid in Fort Lauderdale. Once this is done, the buyer pays the shipping costs, and the risk of loss passes to the buyer during transport to Anchorage. This scenario is an example of which commonly used shipping term?

+5

Answers (1)

Know the Answer?

Farley · Answer 1

Free alongside ship port of shipment.

Explanation:

"Free Alongside Ship" implies that the vendor satisfies his commitment to convey when the products have been put alongside the vessel on the quay or in lighters at the named port of shipment. This implies the purchaser needs to hold up under all expenses and dangers of loss of or harm to the products from that minute.