Difference between revisions of "Free on Board Destination"
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Revision as of 06:17, 13 September 2013
“F.o.b. destination” means free on board at destination; i.e., the seller or consignor delivers the goods on seller’s or consignor’s conveyance at destination. Unless the contract provides otherwise, the seller or consignor is responsible for the cost of shipping and risk of loss. For use in the clause at 52.247-34, see the definition at 52.247-34(a).[1]
Accounting Treatment
Revenue cannot be recognized until the customer receives the property.
Other Important Considerations
Insurance, risk of loss, and shipping charges are incurred by the seller
References and Notes
- ↑ FAR 2.1
