What is FAS?
FAS stands for Free Alongside Ship and is a term used in international trade describing a contract where the seller is responsible to arrange for the goods purchased to be delivered next to the arranged vessel (at a loading dock or barge, not a container terminal, for terminal delivery use FCA) at a particular port ready to be transferred to the waiting ship.
According to FAS Incoterms, what is each party responsible for?
Under FAS, the seller is responsible for carriage to the location of the vessel, clearing goods for export, and delivery of goods next to the vessel. Risk and responsibility are transferred from the seller to the buyer at the agreed upon vessel location.
The buyer is responsible for loading the vessel, main carriage, import duties and documents, and all carriage/fees at destination.
When is FAS used?
FAS terms can only be used for non-containerized ocean shipments and inland waterway transport. These terms are popular for bulk cargo like oil or grain.
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