FOB value definition

FOB value means the price actually paid or payable to the exporter for the good when the good is loaded into the carrier at the named port of exportation. The value includes the cost of the good and all costs necessary to bring the good into the carrier.

FOB value means the free-on-board value of the goods, inclusive of the cost of transport to the port or site of final shipment abroad;

FOB value means the price actually paid or payable to the exporter for a product when the product is loaded onto the carrier at the named port of exportation, including the cost of the product and all costs necessary to bring the product onto the carrier, excluding customs duties on exportation;

Examples of FOB value in a sentence

• We shall pay a penalty equivalent to 0.1 % of the FOB value of the equipment for every week or part thereof delay in rectifying the defect.

• In case the firm wants confirmed Letter of Credit, the charges shall be borne by the firm.i) 80% of FOB value of equipment & spares will be released at sight of shipping documents along with DGMS approval if required.ii) Balance 20% of FOB value of the equipment along with 100% charges for erection & commissioning of the equipment, if any, will be released after successful erection, commissioning and testing as specified in the order.

• For every day exceeding permissible downtime, penalty of 1/365 of the 5% FOB value will be imposed.

• NOTE:- Mine owners are required to substantiate domestic sale value/ FOB value for each grade of ore quoted above with copy of invoices.

• In case of imported items where the price is on F.O.B. value 100% will be paid against letter of credit.

More Definitions of FOB value

FOB value or free-on-board value means the price actually paid or payable to the exporter for a product when loaded onto the carrier at the named port of exportation, including the cost of the product and all costs necessary to bring the product onto the carrier;

FOB value means the free-on-board price paid to the exporter for the product when it leaves the named port of shipment. Thereafter, the importer will assume the costs including the necessary expenses for the shipment. The valuation shall be made in accordance with the Agreement on the implementation of Article VII of GATT 1994.

FOB value means the price actually paid or payable to the exporter for a good when the good is loaded onto the carrier at the named port of exportation, including the cost of the good and all costs necessary to bring the good onto the carrier and the valuation shall be made in accordance with the customs valuation agreement;

FOB value means the value of the good free on board, inclusive of the cost of transport (regardless of the mode of transport) to the port or site of final shipment abroad;

FOB value means the free-on-board value of the goods, inclusive of the costs of transport to the port or site of final shipment abroad; “fungible goods or materials” means goods or materials that are interchangeable for commercial purposes and whose properties are essentially identical;

FOB value means the free­on­board value of exported goods;

FOB value means a value consisting of all costs payable by a purchaser, including those incurred in the placement aboard the convey- ance for shipment, but not including the actual shipping costs and the amount of a charge payable under section 10.