Glossary
Free In and Out (FIO)
Tags: Glossary,
It shows seller is responsible for the cost of loading & unloading the goods from carrier at the port of shipment and destination.
Ready to get started?
Al Sharqi Shipping is a leader in the logistics industry with more than 30 years of experience in guiding and moving freight across the globe.
What does Free In and Out (FIO) mean?
Free In and Out (FIO) is a term used in a charter party agreement that specifies that the shipowner is responsible for the cost of loading and unloading cargo from the vessel, but the time spent in the port is not included in the charter period. This means that the shipowner will not be responsible for paying demurrage or detention charges if the cargo is not loaded or unloaded within the agreed time frame.
Related Glossary terms
Share the Article