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International Business-I — Business Studies STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceBusiness StudiesInternational Business-I1 Mark
Question
Explain the term FOB.
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Answer

Free On Board (FOB) indicates that the supplier pays the shipping costs that usually include the insurance costs from the point of production to a specified destination, at which point the buyer takes responsibility.

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