What mean by FOB Value?

FOB value, or Free On Board value, refers to the cost of goods when they are loaded onto a shipping vessel at the seller's location. This price includes the cost of the goods, packaging, and transportation to the port of shipment, but excludes shipping costs to the buyer’s destination. It is a key term in international trade that defines the point at which the risk and responsibility for the goods transfer from the seller to the buyer. Essentially, FOB value helps determine the total landed cost of goods for importers.