Free Alongside ship-FAS
FAS Trade (FAS) means that the seller at the named port of shipment on the dock or barge to the side of the boat to bring the goods from that time on the goods the buyer has to bear the full cost of loss or damage and risks, while the buyer must apply for export clearance procedures . The previous version requires the buyer to arrange for export procedures. However, if the parties wish the buyer to export formalities required in the contract of sale clearly stated. This term applies only to sea or inland waterway transport in this term for sea or inland waterway transport.
Free Alongside Ship - Delivery Contract
FAS the seller is responsible for the goods handed port named by the buyer ships alongside the boat, the ship can not be docked at the pier when the need Barge and handed the barge, the seller risks, responsibilities and costs are all this as a profession, after all the risks and the cost borne by the buyer of a sale and purchase agreement. FAS is characterized by the contract: the seller is not responsible for the goods for export, all export-related matters are responsibility of the buyer. In foreign trade, when the seller is unwilling to bear the responsibility of the real export of goods, or cargo ship with special difficulties, they often adopt FAS conditions in order to make their own exemption from certain obligations.
Free Alongside Ship - Scope
FAS in accordance with the "2000 International Incoterms" explanation, FAS, including the term applies only to sea water, including means of transport, place of delivery can only be a port of shipment. However, the. In accordance with the "1941 American Foreign Trade Definitions" of the revised explanation, FAS is FreealongSide of an abbreviation, referring to the next means of transport handed. Thus, in dealing with the North American terminology used in FAS, the FAS should be followed by "Vessel" word to make it clear that "Free Alongside Ship." In this regard, should be noted. China's import and export business, if both parties agreed that adoption of FAS trade term contract, then the contract is called FAS contract, the parties in the contract as long as the seller and the buyer is not exempt. "2000 International Incoterms", then once the two sides in delivery in event of a dispute, the courts and the arbitral tribunal may rule in accordance with the above-mentioned decisions and awards.
