FOB ________ Means the Buyer Accepts Ownership When the Goods

question 118

Short Answer

FOB ________ means the buyer accepts ownership when the goods depart the seller's place of business. The buyer is responsible for paying shipping costs and bears the risk of damage or loss when goods are in transit.

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Definitions:

Geographic Extent

The size or area covered by something, such as a region, nation, or geographic feature.

Lords of the Loom

Lords of the Loom were wealthy textile manufacturers in the northeastern United States during the 19th century, notable for their economic and social influence, particularly in the development of the factory system.

Textile Operations

The various processes involved in the manufacturing of fabric, including spinning, weaving, dyeing, and finishing.

World's Cotton Supply

The total amount of cotton available globally for use in textile manufacturing and other industries.