liner in, free out (LIFO) definition

liner in, free out (LIFO)

Freight rate qualification, not a term of sale. Indicates that the offered port to port rate includes charges for loading of cargo on the vessel at the port of origin but not for its offloading at the port of destination. Here 'free' means 'not included' and not 'inclusive of' (as in free on board). It is not an Incoterm and may have different meanings in different countries.

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