In FAS (Free Alongside Ship, Loading Port) the Buyer Pays

question 1

True/False

In FAS (free alongside ship, loading port) the buyer pays all the transportation and delivery expenses up to the ship's side and clears the goods for export. Risk passes at the ship's rail.

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Definitions:

Farm Products

Items derived from farming activities, including crops, livestock, and products directly obtained from livestock or crops (e.g., milk, eggs, wool).

Consumer Goods

Products and commodities that are bought and used by individuals or households for personal use.

Chapter 7

A provision of the U.S. Bankruptcy Code that deals with liquidation, where a debtor's non-exempt assets are sold to pay creditors.

Liquidation

The process of closing a business and distributing its assets to claimants, often during bankruptcy.