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21:00 Apr 20, 2005
French to English translations [PRO] Bus/Financial - Business/Commerce (general)
French term or phrase:assurance ivrée à partir de la mise à FOB
Explanation: it means that the insurance will take effect once the goods are on board, and more specifically once the goods are after the vessel's rail.
It might sound strange but the explanation is that the space above the vessel up to a certain height is part of the vessel so to say.
For example : if the crate lifting the container drops the container once it is after the rail but still in the air it is covered by the insurance.
insurance from FOB or insurance takes effect as from FOB
There might be a better wording but you have to keep the "FOB" since it is the only internationaly recongised Incoterms