What is FAS?
Free Alongside Ship or FAS is a term used in international trade, according to which the seller is responsible for clearing goods for export and placing them alongside the buyer’s vessel at the named port of departure. The location for the named port of departure can be a barge or a loading dock, but not a container terminal.
According to FAS Incoterms, what is the buyer responsible for?
Under this Incoterm, the buyer has to cover all costs and risks of loss or damage to the goods from that point on. According to FAS, the buyer is also responsible for loading the freight onto the vessel, as well as handling local carriage, discharge, import formalities and duties, as well as onward carriage until the goods reach their final destination.
When should FAS be used?
FAS should only be used for non-containerized ocean shipments and inland waterway transport. It is especially popular with bulk cargo like oil or grain.
CIP should be applied to all other modes of transport for similar shipments and conditions.
FCA should be applied for containerized shipments delivered only to a terminal.