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.


Nearby Terms

Search volume for passage of risk

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