FAS
Free Alongside Ship
"Free Alongside Ship" (...named port of shipment) means that the seller delivers when the goods are placed alongside the vessel at, the named port of shipment. This means that the buyer has to bear all costs and risks of loss of or damage to the goods from that moment.
The FAS term requires the seller to clear the goods for export.
THIS IS A REVERSAL FROM PREVIOUS INCOTERMS VERSIONS WHICH REQUIRED THE BUYER TO ARRANGE FOR EXPORT CLEARANCE.
However, if the parties wish the buyer to clear the goods for export, this should be made clear by adding explicit wording to this effect in the contract of sale'.
This term is only relevant to sea or inland waterway transport.
Click here to view Free Alongside Ship (FAS) in the summary chart.
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