Final answer:
FOBSP stands for Free On Board Shipping Point, which indicates that the buyer is responsible for shipping costs and risk from the moment the goods leave the seller's premises.
Step-by-step explanation:
FOBSP stands for Free On Board Shipping Point, which is a term used in international trade that designates which party (buyer or seller) pays for the shipping costs and at which point the responsibility for the goods transfers from the seller to the buyer. In a FOB Shipping Point agreement, the buyer assumes responsibility for both the shipping costs and the risk of loss or damage once the goods leave the seller's premises. This term is a crucial aspect of international trade agreements as it determines the cost liability and risk-bearing obligations of the involved parties.