FAS, Free Alongside Ship

FAS, Free Alongside Ship (insert name of port of loading) is an IncoTerm which is restricted to goods transported by sea or inland waterway. Under FAS, the seller ensures that the goods are packed correctly and includes an invoice and an Export License at the agreed port. He is not responsible for boarding the goods. At the quayside the risks, costs and responsibilities shift from seller to buyer. The buyer is responsible for the contract of carriage and he must clear the goods for export. This party is obligated to take out a sea Transport insurance against the risk for the seller of loss or damage to the goods during the transport. The buyer arranges the insurance contract, but the seller pays the insurance fee. It is important that the buyer is aware that the seller is only required to provide a minimum coverage insurance. Source International Chamber of Commerce (ICC).

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