Incoterms® 2020Modes: Sea, Inland Waterway
FAS - Free Alongside Ship
FAS (Free Alongside Ship) is one of the 11 rules published by the ICC in Incoterms® 2020. Risk passes alongside vessel at named port of loading. Insurance is not an obligation under FAS - the buyer decides.
Workable for LC
Risk transfer point
Alongside vessel at named port of loading
Who does what under FAS
| Obligation | Party |
|---|---|
| Export Packaging | Seller |
| Inland Transport (Origin) | Seller |
| Export Clearance | Seller |
| Loading on Vessel | Buyer |
| Main Carriage (Freight) | Buyer |
| Insurance | Buyer |
| Destination Charges | Buyer |
| Import Clearance | Buyer |
| Import Duty | Buyer |
Watch outs
- Used for bulk/heavy-lift where seller delivers to quayside but buyer controls loading equipment.
Under a letter of credit
Seller does not get B/L. Buyer arranges shipping. Less suitable for LC.