Define Shrinkage. List Three or More Examples of Shrinkage

question 123

Essay

Define shrinkage. List three or more examples of shrinkage.

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Definitions:

FOB

An incoterm meaning "Free on Board," which indicates that the seller is responsible for goods until they are loaded on a shipping vessel, at which point the responsibility shifts to the buyer.

Shipping Term

A term used in contracts to specify the responsibilities of buyers and sellers regarding the transportation of goods.

Common-Carrier Delivery Contracts

Agreements between an individual or company and a carrier, regulated by government agencies, concerning the transport of goods or passengers for a fee.

Destination Contracts

Contracts specifying that the seller will bear the risk and expense until the goods are delivered to a specific location.