Definition of Free on board (FOB)
The term "F.O.B.” is an abbreviation for "free on board” and means that seller will deliver subject matter contracted for, on certain conveyance, without expense to buyer. Tyson v. Seaport Grain, Inc., Tex.Civ.App., 388 S.W.2d 731, 735. In sales price quotation, means generally that the seller assumes all responsibilities and costs up to the point of delivery, including insurance, transportation, etc. See U.C.C. § 2-319.
That's the definition of Free on board (FOB) in Black's Law Dictionary 6th Edition. Courtesy of Cekhukum.com.
