FAS Incoterms 2020: Meaning & Explanation
This page is designed to provide a basic level of understanding of Incoterms ® 2020 Rules published by the International Chamber of Commerce (ICC)
FAS – Free Alongside Ship
The meaning of it is that the delivery is completed for the supplier when the product is on the quay for loading on vessel hired by the recipient. FAS is intended only for transporting goods by sea or inland waterway. Supplier pays the export duty, packaging of goods and transportation of cargo to the port, as well as the possible costs of arrival at the port, and provides the relevant documentation. Recipient loads the goods onto the ship, hires and pays the ship, bears all the costs of transporting the goods to the destination, insures the goods, pays import duty, relevant certificates, licenses, etc. FAS is designed to transport goods in bulk or in containers, and also for transportation of heavy equipment.
Who covers the logistics charges?
Distribution of costs according to the Incoterm negotiated in the contract. Classification according to the increased level of obligations for the seller.
