Final answer:
F.A.S. stands for 'Free Along Side' and is used in international commerce to indicate that the seller will bear the cost and risk of delivering the goods alongside the vessel at the port of shipment.
Step-by-step explanation:
F.A.S. stands for 'Free Along Side', and it is a trade term used in international commerce to indicate that the seller will bear the cost and risk of delivering the goods alongside the vessel at the port of shipment. This term is commonly used in contracts for the sale of goods where the buyer is responsible for arranging transportation of the goods from the port of shipment.
For example, if a buyer in the United States purchases goods from a seller in China on F.A.S. terms, it means that the seller is responsible for delivering the goods to the port in China and placing them alongside the vessel. The buyer is then responsible for arranging the shipment of the goods from the port in China to their final destination in the United States.