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FOB Shipping Point
A term used in shipping contracts to indicate that the seller is responsible for delivering goods to a shipping point, and the buyer is responsible for all costs and risks of loss or damage to goods from that point forward.
Credit Memo
A document issued by a seller that reduces the amount owed by a buyer, typically due to a return or refund.
Cash Discount
A cash discount is a reduction in the price of goods or services allowed by the seller to encourage prompt payment by the buyer.
FOB Shipping Point
A term used in shipping agreements indicating that the buyer assumes responsibility and ownership of goods once they leave the seller's premises.
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