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LEGAL TERMS SURROUNDING THE TRANSPORTATION PROCESS THAT HAVE SIGNIFICANT IMPACT ON HOW BUSINESS IS CONDUCTED AND WHERE RESPONSIBILITY IS ASSIGNED
The Issue
Freight terms, terms of sale/purchase, freight prepaid and collect and FOB are terms that are continually being misused and misunderstood. In many instances the necessary and appropriate terms to establish a position are left un‐stated on the belief that a stated term takes the place of one that is silent. Where silence does speak, we are left to the mercy of interpretation.
The purposes of this white paper are to address these conditions and to provide the reader with insight, shared definitions and appropriate application.
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