What do you mean by loco invoice?

A loco invoice is a type of billing document used in international trade that specifies the price of goods delivered at a specified location, typically the seller's premises. The term "loco" is derived from "locomotive," meaning "at the place of." This invoice indicates that the buyer is responsible for transportation costs from the seller's location, emphasizing that the seller's obligation ends once the goods are made available. It contrasts with other terms like "FOB" (Free on Board), where the seller's responsibilities extend to the point of loading onto a transport vessel.