Free Alongside Ship
FAS (named port of shipment) Incoterms 2020
FAS suomeksi, in Finnish
- The seller delivers the goods to the buyer by placing them alongside the vessel at the agreed port of loading within the agreed period.
- The seller pays the cost and bears the risks of damage to or loss of the goods until he has delivered them.
- The seller will take care of the export formalities. The buyer takes the delivery when the seller has placed the goods alongside the vessel at the agreed port of loading.
- The buyer contracts for the loading of the goods and for the carriage of goods from the agreed port of loading.
- The buyer pays the cost of the goods and bears the risk after the delivery.
- The buyer will take care of the import formalities and possible formalities in the country of transit, if any.
FAS CAN BE USED ONLY IN CASE OF TRANSPORT BY SEA OR INLAND WATERWAYS, I.E. FROM PORT TO PORT.
According to FAS the seller delivers the goods to the buyer at the port of loading. The seller delivers the goods to the buyer when he places the goods alongside the vessel named by the buyer at the agreed port of loading. The buyer takes the delivery when goods are alongside the vessel at the port of loading. Costs are divided and the risk is transferred between the seller and the buyer at the delivery.
The seller will receive a document from the carrier as a proof of the delivery. Often this document is an ”on board” bill of lading. It should be noted that the risk passed to the buyer when goods were on the quay, at the beginning of loading.
The delivery to a terminal is not enough, because goods are not yet alongside the vessel. Although the seller has placed the goods on the quay, the seller bears the risk and has not delivered the goods until the vessel has arrived. The seller is responsible for the export formalities and their costs. Import formalities and any costs of transit formalities belong to the buyer.