Final answer:
In a FAS agreement, the seller is responsible for delivering the goods to a specified location alongside the ship, while the buyer is responsible for loading the goods onto the ship and further transportation. The risk transfer point in an FAS agreement is when the goods are delivered alongside the ship.
Step-by-step explanation:
In a Free Alongside Ship (FAS) agreement, the seller's responsibility is to deliver the goods to a specified location alongside the ship nominated by the buyer. The seller is responsible for all costs and risks associated with delivering the goods alongside the ship up to that point. Once the goods are alongside the ship, the buyer is responsible for loading the goods onto the ship and bears the costs and risks associated with the further transportation of the goods.
The risk transfer point in a FAS agreement is when the goods are delivered alongside the ship. At this point, the buyer assumes the risk and any potential loss or damage that may occur during the loading of the goods onto the ship and the subsequent transportation.