A Free Trade Zone (FTZ) can be described as a specific region within a nation’s borders where merchandise can be brought in, warehoused, handled, and sent out again in accordance with particular customs rules, typically without the imposition of customs tariffs. These regions are frequently situated near significant maritime harbors, global air terminals, and the nation’s boundaries—locations that possess numerous geographical benefits for commerce.Read More
Find easy-to-understand explanations of the most common freight forwarding and shipment terms
FAS (Free Alongside Ship) is an Incoterm that defines a delivery arrangement whereby the seller is responsible for delivering goods to a designated port. The seller must place the goods alongside the vessel selected by the buyer, and all costs incurred up until this point are covered by the seller.
Once these obligations have been fulfilled, responsibility and risk transfer from the seller to the buyer; the buyer now bears any additional costs, such as freight or insurance.
FAS is most commonly used in shipments of bulk commodities, applying to ocean transport only.