What is FAS value?

FAS value is the price charged by the seller to the buyer in a trade transaction conducted as per FAS. All charges and payment terms involved in the trade proceeding are considered for calculating FAS price. Who is responsible for customs under FAS?

What does FAS mean in Incoterms?

FAS or Free Alongside Ship is an Incoterm definition that dates back to the days of sail shipping. In an FAS agreement, the seller is responsible for leaving goods alongside the ship, at which time the buyer assumes all ongoing costs, risks and logistics.

What is a free alongside ship (FAS)?

The FAS Incoterm or “Free Alongside Ship” is an Incoterm that is exclusive to ocean freight shipping. Under FAS, the seller must deliver the goods alongside the ship at the port dock and is responsible for all costs and risks until the goods have been placed at the dock.

What is the difference between FCA and FAS?

Because the seller owns the good right up to delivery, FCA arrangements allow the seller to resell the goods to someone else while the goods are still in transit. Free Carrier applies exclusively to air, rail, road, and containerized/multimodal transport. 3. FAS: Free Alongside Ship