JAMB - Commerce (2008 - No. 24)
When 'FOB' is written on a document, it implies that the buyer bears the?
cost of goods and advert
loading costs and insurance
insurance and transport costs
transport and communication costs
Forklaring
Free on Board (FOB) is a shipment term used to indicate whether the seller or the buyer is responsible for goods that are damaged or destroyed during shipping. In this instance, it means that the buyer is liable for the insurance and transportation of the goods while on transit