Free In and Out (FIO)

Definition of "Free In and Out (FIO)"
  1. A shipping agreement where the charterer or shipper is responsible for the cost of loading and unloading the vessel
How to use "Free In and Out (FIO)" in a sentence
  1. The business decided to use a Free In and Out (FIO) contract to utilize their own personnel for load and unload tasks.
  2. Because of the Free In and Out (FIO) agreement, costs for handling the cargo were the shipper's responsibility.
  3. Free In and Out (FIO) terms are common in situations where the shipper wants more control over the cargo handling process.

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