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FrançaisA no longer valid Incoterms. It has been replaced by FCA. It was withdrawn from use as valid Incoterms because it was felt that the term was the source of much potential disagreement, especially as regards to allocation of customs…
Read MoreFOB Free on Board
FOB is the oldest Incoterms and together with CIF the most widely used with sea transport. The seller delivers the goods by placing them on board the ship named by the buyer in the port of shipment. The terminal costs…
Read MoreFOR Free on Rail
A no longer valid Incoterms, but still used for some traders when goods are delivered in railway station in the seller´s country. The suitable term from Incoterms rules is FCA Free Carrier. See Incoterms. Practical Guide to Incoterms.
Read MoreForce majeure clause
A contract clause that excuses who breaches the contract when performance is prevented by the occurrence of certain events such as natural disasters (earthquakes, floods), war or labor strike, that is beyond the party´s reasonable control. If a force majeure…
Read MoreForeign currency
The currency of any foreign country which is authorized medium of circulation and the basis for record keeping in that country. Foreign currency is traded by banks either by the actual handling of currency or checks, or by establishing balances…
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