What Does FOB Mean in Goods in Transit?


What Does FOB Mean in Goods in Transit?

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  Transit Insurance

FOB stands for Freight On Board or Free On Board. The shipping terms that follow FOB dictate who pays for shipping and once the possession of product is transferred whereas goods in transit. The FOB shipping terms have both legal and accounting implications for the purchaser and marketer.

Basics Understanding of FOB

When goods-in-transit for international perspective, the freight term FOB stands for Free On Board. For domestic shipments, FOB can stand for either Free On Board or Freight On Board. Either way, the meaning is the same. FOB is a freight term that indicates when the possession of products being shipped transfers to the client and who pays the cargo freight. Freight Collect means that that the client pays the shipping and Freight paid means the vendor pays the shipping.

FOB Destination and FOB Shipping Point

FOB is usually followed by the term “Destination” or “Shipping Point.” FOB Destination or FOB buyer’s warehouse means that the possession of products transfers once the products truly reach the vendor. This means that till the vendor or a 3rd party shipper delivers the products to the buyer’s property, the seller still owns the products. The terms FOB origin and FOB shipping point mean the possession for the products transfer as before long because the marketer ships the goods. As soon as the goods in transit, the buyer owns them.

Legal Implications of Goods in Transit

Marking a shipment as FOB Shipping point or FOB Destination will facilitate resolve legal disputes regarding product broken or lost in transit. If goods-in-transit and the shipment was FOB Destination, the seller is responsible for the broken product and should work with any third party shipper to induce a refund or resolution. If the shipment was FOB shipping point, this is the responsibility of the client. Likewise, if product in transit through FOB Destination and they never hit the buyer’s property; the vendor is chargeable for causation replacement goods to finish the sale. If this happens under FOB shipping point, the buyer is out of luck.

Accounting Implications

FOB shipping terms are vital for company accountants to recognize and perceive. That’s as a result of a company is simply allowed to record revenue once the possession of products has utterly transferred to a marketer. When goods-in-transit by FOB destination, the seller cannot record sales revenue till the products truly reach the client. This becomes a significant issue at the tip of a news amount once the corporate desires to report sales revenue for monetary statements. At these cut-off periods, operations personnel and accountants must investigate the delivery standing of shipped product to confirm revenue.

Internationally Goods in Transit

When goods in transit internationally, the main added part to be understood is importation prices that is assumed by the businessperson of Record, but this might be a 3rd party likewise. Often the actual freight charges are but the combined import prices of the destination charges paid by the receiver in native currency and customs, duties, and local excise tax additionally to a customs broker’s service fees. Clearly, these larger set of details and costs are dependent on the country burning additionally to the carrier. It’s often needed and best suggested to use a native customs broker once commercialism so as to properly assess total import prices with duties and taxes additionally to properly filing entry work with the govt. of the country burning.

United Auto Insurance- Are They The Top Company For You?

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  Auto Insurance

United auto insurance is a large insurance provider today in Illinois and Indiana area. Many people have their insurance with United, and have found it very helpful.

Is it right for you? Here are some helpful tips to help you find out this important information.

First of all, United auto insurance has been around for 28 years, giving them a fair amount of experience in the insurance industry. Of course, there are many larger companies have had much more experience in the insurance industry; still 20 years is reasonable now to at least start with when looking for a good car insurance company

The company continues to grow each and every year, with more and more satisfied drivers each year. United makes it simple to pay because they accept every single type of payment available, including Visa, MasterCard, Discovery, American Express, and Western Union. They also take personal check be the phone.

In order to obtain an insurance policy with United auto insurance, you’ll need an SR 22. This is simply a certificate that you must get with this Secretary of State of either Illinois or Indiana, and usually ordered by a judge.

If you have been guilty of driving without insurance, driving under the influence, and had your driver’s license revoked, or your license plates have expired, this certificate is simply to inform the state of your Illinois or Indiana that you have liability insurance in it you will this money will not to come out of your pocket.

United Auto Insurance looks at several different factors that will affect your insurance rate, probably typical most insurance companies. These factors are gender, age, marital status, driving record, in type of vehicle. These are the main factors involved with just about any company look at.

Therefore, make sure that you have a good driving record in order to obtain the best rate possible. Also, check with which United to see what had discounts that they offer. Like most companies, Untied will probably give discounts when you perform certain tasks, such as taking a drivers education course.

Also, if you have a sports car or high performance car you think might cost you more money than the average auto, you might want to consider finding another car to save some money with. no, it might not be as sporty, but if it will save you some money with your auto insurance policy, it might be worth it. also, try to stay off the road as much as possible; very simply, United auto insurance, like other providers, looks at how much time you plan on spending on the road when determining how much you are going to pay for your auto insurance policy.

Obviously, the more you will be driving, the more likely you are to get in an accident; therefore, staying off the road at least as much as possible would probably be a good idea. Obviously, there are some things you just can’t avoid doing, but if you at least attempt to reduce your miles driven, you will save some extra cash.

Hopefully these tips will help you decide whether not United auto insurance is the right company for you. Of course, this answer will be different for everybody.

Keep in mind the company again only is 20 years of experience in auto insurance industry, putting them towards the bottom as far as the larger companies are concerned. Hopefully this information will help you to decide whether not United Auto insurance is the right company for you.

How to find Cheap Insurance Plans

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  Cheap Insurance Plans

Insurance is a form of contract whereby periodic payments (also known as insurance premiums) are made to an insurance company, in order to provide an individual or business compensation in the event of property loss or damage.

The main purpose of insurance is to protect yourself or your family against the financial impact of a tragedy. In general, it is contract in which one party agrees to pay for another party’s financial loss resulting from a specified event. Insurance mainly consist of three things – insurer, insured and policy. An entity seeking to transfer risk (an individual, corporation, or association of any type) becomes the ‘insured’ party once risk is assumed by an ‘insurer’, the insuring party, by means of a contract, defined as an insurance ‘policy’.

There are two main ways to buy insurance. The first one is directly through an agent and the second one is to do it yourself. The main advantage of buying insurance from other is that an honest and competent insurer will decide according to the situation and make suggestions. The advantage of going on your own is that less money is needed for it. While buying any type of insurance, a person will save money by paying annually or semi-annually. Sometimes buying several types of insurance from the same company will save money.

There are different types of insurance available in the market. Life insurance is a form of insurance that pays monetary proceeds upon the death of the insured covered in the policy. There are main two types of life insurance that are term insurance and permanent insurance.

The medical insurance policy is a non-life insurance policy, which covers the expenses incurred by an individual in case of an injury or hospitalization. Individuals have to pay a minimal premium for buying medical insurance. Its main types are indemnity plan, preferred provider organization and health maintenance organization.

Homeowner insurance policy covers property and contents. There are two kinds of Homeowners Insurance policies and these policies can be divided into two categories named-Peril Insurance and all-risk insurance.

Auto insurance is the insurance against loss due to theft or traffic accidents. It can be purchased for cars, trucks and other vehicles. Its primary use is to provide protection against losses incurred as a result of car. Its main types are general liability, no-fault insurance, uninsured auto coverage and medical payments.

Car insurance is the insurance against loss due to theft or traffic accidents. Its main types are fully comprehensive auto insurance, third party insurance, fire and theft insurance, third party insurance, specialized car insurance.

Term life insurance provides protection for a specific period of time. It pays a benefit only if you die during the term. Term life insurance comes in two basic varieties term life policies and cash value policies.

There are numerous insurance providers that designs and markets insurance services for individuals, families, groups and businesses worldwide. Now, there are also online insurance facilities that help a person to select insurance just by clicking. After fulfilling the basic requirements of the insurance company, person is eligible for it.

How To Get Cheap Car Insurance Online In West Virginia

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  Car Insurance Online

If you simply go online and find one of those price comparison websites for car insurance in West Virginia and you play around with it for a while you will probably save some money each month on your car insurance.

However, you might be able to save even more money by first learning some of the steps you can take to reduce the cost of your car insurance even before you get online.

For example, did you know that parking your car in a garage at night can save you money?

Did you know that paying your premiums automatically each month out of your checking account also saves you money?

Did you know that some insurance companies will give you a break on the cost of your insurance if you buy and use a simple steering wheel locking device?

Did you know that your car insurance agent may know of other simple and inexpensive anti-theft devices that you can install on your car that will save you money every single month?

Did you know that if you were to use public transportation as much as possible and leave your car parked at home that you might be able to save a considerable amount on your car insurance? It’s true. If you can reduce your monthly driving to below 500 miles your insurance company may give you a substantial Low Mileage Discount.

Did you know that if you join (or set up) a carpool at work that you can save money every month on your car insurance? Part of your monthly premium is based on the number of times you drive back and forth to work in rush hour traffic every month. If you can cut that number in half then you can save a nice chunk of change on your insurance every month – plus you’ll be doing something good for the environment and saving wear and tear on your car.

Did you know that paying for collision or comprehensive insurance on an older car that no longer has any Kelly Blue Book value is a total waste of your money?

Did you know that young drivers can save at least 5% a month on their car insurance simply by staying in school and maintaining at least a “B” grade average?

Did you know that you can save on car rental coverage if you have a credit card that provides automatic coverage on rental cars?

Did you know that if you have a health insurance plan you may be able to reduce or even cancel the Personal Injury Protection portion of your car insurance, saving you quite a bit of cash each year?

Did you know that if you are married you can save money each month by listing the wife as the primary driver and the husband as the secondary driver on your car insurance policy?

Did you know that if you don’t make small claims against your insurance company that you can save money on your premium every month? Most companies offer some sort of discount after six or twelve claim-free months.

Did you know that some places of work and many clubs, organizations and associations offer their members low-cost group car insurance? If you don’t belong to any group or club that offers its members group car insurance ask friends and family if any of them belong to such a group. Then join.

Did you know that increasing your deductible will drop your cost of insurance overnight? Obviously you’ll need to review your financial situation before deciding on a deductible since you don’t want to agree to pay more if you file a claim that you can actually afford.

And did you know that if you buy your car insurance online you can save over buying your car insurance from most brick and mortar locations? Don’t get lazy, however, and only check out one of the websites that permit you to compare the prices of car insurance policies from a variety of different insurance companies here in West Virginia.

If you really want to see prices from every insurance company you are going to have to spend a little extra time and do your comparisons on a minimum of 3 different comparison websites. Also – and this is important – you need to use the information you have gleaned from this article and fill out the form on all 3 websites EXACTLY the same.

This is the only way for you to compare the same policy across all three websites and it is the best way to insure that you will end up with the best possible price.

Once you have completed all of your comparisons then the rest is a snap. Just choose the lowest-priced policy – and you’re done! This is how you become an expert and make certain that you get cheap car insurance online in West Virginia and save money for years to come.

Getting Affordable Auto Insurance – How To Insure Your Car Without Breaking The Bank

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  Auto Insurance

In today’s day and age, getting affordable car insurance really isn’t that difficult. In fact, you can often times find many affordable auto insurance quotes on the Internet. Of course, just because the Insurance is cheaper doesn’t is make the right one for you.

In fact, often times the most affordable auto insurance isn’t the best ones for you, because the customer service is poor and the company many times has only been in business for several years. One of the most important aspects of any insurance companies is experience; unfortunately, most times cheaper insurance companies haven’t had much experience in the industry, and therefore aren’t all that reliable.

Of course, just because auto insurance is affordable doesn’t necessarily make it bad either. If you are set on finding affordable and cheap car insurance here are some important tips to consider.

First of all, do your shopping over the Internet. There are a couple big advantages to doing this on the Internet, and here they are.

First of all, it is much quicker. Instead of having to sort through the Yellow Pages and wait literally hours on end to talk to several agents, you can easily and quickly get a quote online to find out the best car insurance for you. You can do this for many different companies, much faster than you could over the phone.

Now, once you’ve narrowed down your search to several companies, you may want to give them a call and find out more from directly speaking to an agent. This is a great way to test out their customer service; if you find you to wait hours to talk to one person, that company is probably out of the picture.

However, if they have good customer service and you can talk an agent rather quickly, then they are probably worth considering. However, always start your search on the Internet and narrow it down to several different companies.

This makes it much easier to find cheap auto insurance at a much quicker rate. Follow these tips and you will find getting affordable auto insurance easier than ever.

Travel Insurance Protects All Travellers From Risks!

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  Travel Insurance

Any unexpected expenses during your travel abroad need to be preplanned well in advance. Travel insurance is indispensable when you are traveling to a foreign country, sometimes you are on your own and any unforeseen incidents such as accidents or illnesses will be borne by you wholly. With Travel insurance your medical expenses or any other unforeseen expenses will be covered.

It’s basically an agreement between a traveller and an insurance company by which an insurance company is obliged to cover all the losses that you may incur during the trip abroad. An insured person pays the premium either in single or multiple installments.

Which is the right time to get the travel insurance?

For frequent travelers there are more broad permanent travel insurances that protect you during all your trips that meet certain requirements. Such online travel insurance can be purchased directly from insurance companies but also from travel agents or travel companies.

What happens in case of pre-existing medical conditions?

Anyone with a serious pre-existing medical condition would find it tricky to attain a travel insurance. However, it’s not impossible, travel insurance companies exclude all claims related to pre-existing medical conditions. Some insurers will cover for pre-existing conditions without any additional premium. Other travel insurance companies may have a medical screening system, usually carried out over the telephone or online. You are asked a series of questions in order to assess the risk involved and to determine whether you can be given insurance, in such case you may have to pay an additional premium to cover the risk of pre-existing condition, or exclude any claims relating to risk.

What all am I covered for in such insurance?

The most common risks that are covered by travel insurance are flight delays, cancellations, limitations. Theft of luggage, delay or loss of personal possessions up to a certain amount when undeclared and up to any amount when declared and included in the policy is covered under such travel insurance. It will also cover for medical expenses whether due to illness or accident. This includes transportation to and from hospitals and clinics, physicians’ fees, medications, etc.

In case of death, all funeral expenses, benefits of accidental death, will be covered by the insurance. Legal coverage such as legal fees, personal liability for accidents in case you are responsible for the accident and have to bear the injured person’s medical expense. Moreover, there are other risks for which insurance can be purchased jointly or separately from a regular travel insurance contract.

If you buy a travel package to a high risk destination, chances are that the policy will already contain those clauses, the same is applicable if you hire all the services needed to perform the high risk activities from the same agent. However, you should carefully read the policy before committing to anything and make sure that you are sufficiently protected.

Senior Citizen Travel Insurance ensures sufficient protection!

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  Travel Insurance

Don’t stop your self from taking a break from your monotonous routine. Take a break, go on a holiday to your country side or a cruise. Online route uncovers all the best deals and cheap travel insurance for senior citizens. Speak to your online experts for your sound insurance cover.

Unlike many travel insurance policies, all medical conditions are considered by Worldwide Travel Plan. Pre-existing medical conditions do not preclude cover being available for the medical condition. A simple additional medical premium can often be paid to cover the condition, and the standard travel insurance policy conditions will be maintained for all other aspects of your trip. The stereotypical view that older holidaymakers have an increased risk of falling ill or having an accident whilst on holiday makes it difficult for the older traveller to find an affordable travel insurance deal.

Travel insurance for senior citizens covers you up to the age of 79 if you opt for annual cover – and any age for a single trip. Many people worry about getting the right cover the older they get – especially if they’re looking for annual travel insurance in the UK. Such travel insurance for UK customers protects against accidents, delays, cancellations and loss of baggage.

Senior citizens are one of the most likely groups to holiday abroad, but it is also this group that can have the most difficulty in getting an affordable deal on travel insurance. Online insurance companies specialise in providing cover for seniors above 65. cheapest travel insurance options available. There are now a range of providers that offer cheap travel insurance for the older holiday maker, however some customers still find themselves having to pay much higher premiums for the chance to go abroad due to the increased risks associated with their age group.

Flexible senior citizens’ travel insurance cover with affordable quotes for any person up to the age of 85 years. Just ensure that you are covered for International travel on both single and multi-trips. And if you’re adventurous and a sports lover, you can also be covered for any sporting activities. Such travel insurances are designed for mature and retired people in UK looking for good all round holiday cover at a competitive price. You can take out an extra insurance cover, for extreme sports such as winter sports, scuba diving or mountain climbing; don’t forget to mention this at the time of purchase.