CII M90 Practice Questions - Cargo And Goods In Transit Insurances (M90) Exam

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Under FOB (Free On Board) Incoterms 2020, at what exact point does the risk of loss or damage to the goods pass from seller to buyer?

When the goods are placed in the buyer's warehouse at the port of destination When the goods are delivered into the custody of the carrier at the seller's factory When the goods are loaded on board the vessel nominated by the buyer at the named port of shipment When the ocean bill of lading is signed by the vessel's master

Correct Answer:

When the goods are loaded on board the vessel nominated by the buyer at the named port of shipment

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