freight on board

Tag: freight on board

Freight on Board (FOB)

See Also: Ex Works (EXW) How to manage inventory Just in Time Inventory System Inventory Cost Accounting Principles Freight on Board (FOB) Definition Freight on Board, known internationally as Free on Board, are the terms of a transaction within a contract. The terms are there to determine liability and when revenue recognition can take place

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Ex Works (EXW)

See Also: Freight on Board (FOB) Transfer Risk How to manage inventory Accounting Principles Accounting Concepts Ex Works (EXW) Definition Ex works is an agreement between a buyer and a seller that the seller assumes no responsibility for the cost or liability for a product after it is produced and has left the seller’s warehouse.

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