Share this site with del.icio.us Share this site with furl Share this site with stumbleupon Share this site with google Add this site to Yahoo Bookmarks Click here to add us to your favorites Subscribe to our Feed





passage of risk

Definition

Stage in a transaction at which the risk of loss and damage passes on from the seller to the buyer. Different trading terms have different points where passage of risk occurs. In FOB terms, for example, it occurs when the shipment reaches its destination; in CIF terms it occurs when the shipment is delivered to the carrier.

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z