FIOS (Free In and Out Stowed)
FIOS (Free In and Out Stowed) remains a relevant shipping term that specifies a freight arrangement where the shipper bears the costs and responsibilities for loading, stowing, and discharging the cargo. Conversely, the consignee is accountable for the transportation expenses from the port of origin to the port of destination. This collaborative approach to cost-sharing in cargo handling can lead to more adaptable and economical shipping solutions.
— sennder Team
Example or usage in road freight logistics:
A manufacturer in Germany agrees to send goods to a retailer in Spain under FIOS terms. The manufacturer is responsible for the costs associated with loading and stowing the merchandise onto the truck. The retailer in Spain takes on the discharge costs at their warehouse and the transport costs from Germany to Spain. This cost-sharing approach facilitates a more flexible and cost-efficient shipping deal.