1. A "FOB sale" is one by which the item sold is delivered at the port of shipping on board the vessel designated by the buyer for its transport. 2. In FOB sale, the buyer shall conclude the maritime transport contract, pay its freight and notify the seller, within reasonable time, of the name of the vessel designated for the transport, as well as the location and date of shipping and the timeline for carrying it out. 3. The buyer may entrust the seller with the conclusion of both transport and insurance contracts for the goods on behalf of the buyer. The relationship between the seller and the buyer in this respect shall be governed by the provisions of the agency contract.
Interpretation and application must be checked against the official text and current version.