What is FAS?
FAS is one of the 11 International Commercial Terms (Incoterms) used in trade, where the seller is responsible for export clearance and for the delivery of the goods alongside the ship nominated by the buyer at the export country.
Point of Risk Transfer:
When the seller delivers the goods next to the ship, the risk of goods getting damaged transfers to the buyer.
When should you choose FAS?
FAS is best when you’re shipping non-containerized goods or bulk cargo, such as oil, grains, or coal.
A quick example:
Cost allocation. Who pays for what under FAS?
Rajitha Reniguntla is a supply chain enthusiast from Hong Kong. With a curious mind, she's an avid learner carrying a knack for exploring and breaking down complex ideas. She loves to learn about new things and always aims to enhance the customer experience. Outside of work, she enjoys cycling, doodling and listening to podcasts!