Incoterms Explained: Free on Board (FOB)
When goods are bought or sold “Free on Board” (FOB) it means that the seller delivers the goods to a ship at a port previously agreed to by the seller and the buyer. The seller loads the goods onto the ship. The buyer then takes care of the import formalities and transportation to the final destination. Free on Board is one of the oldest Incoterms. It dates back to when goods were carried by sailing ships and it was one of the terms when the Incoterms were first released in 1936. It is also one of the most used commercial terms.
Supply Chain challenges: Medical Supplies
The whole world is affected by the coronavirus pandemic. This means that the demand for medical supplies has been higher than ever before. At the same time, global supply chains are being hampered by restrictions in air freight and ocean freight capacity due to grounded planes and blanked sailings.
Trade Deals across the World: February Edition
From a trade deal point of view, this is going to be a very interesting year. The main players in the negotiations for these trade deals are the United States and the United Kingdom, both of which have new trade deals to negotiate with the European Union. And the United States only signed a “phase one” deal with China, which means there is much more to be agreed on there too.