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What is FAS – Free Alongside Ship (named port of shipment) ?

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What is FAS?

FAS – Free Alongside Ship (named port of shipment)

Under FAS the seller is responsible to place goods alongside the buyer's vessel at the named port of departure. Under this Incoterm the buyer has to cover all costs and risks of loss or damage to the goods from that point on. The FAS Incoterm requires the seller to clear the goods for export. This was updated from the previous version of Incoterms which required the buyer to arrange for export clearance. If there is a mutual agreement to change this arrangements, it should be clarified by including the specific requirements in the contract of sale. This term should be used only for non-containerized ocean shipments and inland waterway transport.

Tags: incoterms

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