Dictionary of Procurement Terms

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Search Results: 91-100 of 116 results for “F”
  • Free on Board (F.O.B.) Origin

    The point at which a title changes hands from the supplier to the buyer at the origin of the shipment. In this scenario, the buyer owns the goods in transit, assumes responsibility for carrier selection, and files any claims for damages incurred during this period. F.O.B. Origin does not address the responsibility for the cost of transportation (freight charges), which must be specified with the inclusion of additional language.
  • Free on Board (F.O.B.) Origin, Freight Collect

    The point at which a title passes at origin, and the buyer pays the freight.
  • Free on Board (F.O.B.) Origin, Freight Prepaid and Added

    The point at which a title passes at origin, and the seller pays the freight and then collects the charges from the buyer by adding them to the invoice.
  • Free on Board (F.O.B.) Origin, Freight Prepaid and Allowed

    The point at which a title to the goods passes from the seller to the buyer at the point of origin, and the supplier pays and bears the freight expense. The buyer owns the goods in transit and files claims, if any.
  • Free on Board (F.O.B.) Origin, Freight Prepaid and Charged Back

    The point at which a title passes at origin, and the seller pays the freight and adds it to the seller’s invoice.
  • Free Rider

    An individual or business that wants to use a public good or service and have others pay for it.
  • Free Trade

    An international trade policy that allows goods and services to be bought and sold across borders with no or few government prohibitions, quotas, subsidies, or tariffs.
  • Freedom of Information Act

    A law enacted in 1967 that gives the public the right to request access to records from any federal entity. Petitioned entities are required to disclose information requested under the FOIA unless it falls under certain exemptions that protect interests, such as personal privacy, national security, and law enforcement.
  • Freeware

    Online software that is available for download and usage without cost (or free of charge) to the user. See Also: Shareware.
  • Freight

    1. Supplies, goods, and transportable property being moved between locations. 2. Compensation paid for the transportation of goods or for the use of a carrier.
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