FAS INCOTERMS (Free Alongside Ship)
FAS incoterms or “Free Alongside Ship” incoterms is exclusive to transport via shipping, FAS states that the seller must deliver the goods alongside the ship, at the port quay. Under FAS Incoterm, the seller is responsible for the cost and risk until the goods have been placed at the quay location, including the goods being cleared for export. From this point onwards the buyer becomes responsible for the cost and risk of shipping.
This represents a complete change of the Incoterms previous to INCO 2000 where the buyer would have been required to complete the customs clearance obligations.
SELLER’S OBLIGATIONS UNDER FAS
- Delivery of goods and documents required
- Packaging and wrapping
- Inland transport in the country of origin
- Customs at origin
BUYER’S OBLIGATIONS UNDER FAS
- Payment of the goods
- Exit charge
- International freight
- Arrival expenditures
- Customs on arrival
- Inland transport at the destination country
- Payment of fees