FOB. (a) For FOB Vessel Transactions, title to and risk of loss of the Product shall pass from Seller to Buyer as the Product passes the last permanent flange connection between the cargo intake manifold of the Vessel and the delivering hose at the loading terminal. (b) For FOB tank-to-tank transfers or pumpovers, title and risk of loss shall pass from Seller to Buyer as the Product passes the outlet flange of Seller’s storage tank.
Appears in 7 contracts
Samples: General Terms and Conditions for the Sale of Crude Oil and Petroleum Products, General Terms and Conditions for the Sale of Crude Oil and Petroleum Products, General Terms and Conditions for the Sale of Crude Oil and Petroleum Products
