Question

True or False .Free alongside ship (FAS) named port is the Incoterm for a transaction in which the seller places the shipment alongside the vessel upon which the goods will be transported out of the country.

Answer 1

The statement is correct as FAS Incoterm implies that the seller places the goods alongside the vessel at a named port, with the buyer taking over all responsibilities thereafter.

Step-by-step explanation:

The statement is True. Free Alongside Ship (FAS) is an Incoterm used in international trade that requires the seller to deliver the goods alongside a designated vessel, at a named port, before the goods are loaded onto the ship. This term specifies that the seller has fulfilled their obligation once the goods are placed alongside the ship, which means the buyer is responsible for the loading cost and all other costs thereon. It's typically used for bulk cargo or non-containerized goods, where the buyer can arrange for the loading directly without needing the seller to load the goods onto the vessel.