Glossary
Free In Out Stowed (FIOS)
A shipping incoterm where the seller bears the cost and responsibility for loading, unloading, and stowing the goods on the vessel.
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What does Free in Out Stowed (FIOS) refer to?
Free In Out Stowed (FIOS) is a shipping term used in a charter party agreement or a transportation contract to define the responsibilities of the shipowner and the charterer regarding cargo handling operations. Under FIOS terms, the shipowner is responsible for the costs and arrangements associated with loading the cargo onto the vessel (free in), unloading the cargo at the destination port (free out), and stowing the cargo securely in the ship’s holds.
The charterer, on the other hand, is responsible for the costs and logistics related to the cargo’s arrival at the port of loading and its departure from the port of discharge. FIOS terms place the responsibility for cargo handling operations on the shipowner, providing more control to the charterer over the cargo’s pre-carriage and on-carriage arrangements.
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