Free In And Out

Summary of Free In And Out

A condition in transportation under which the carrier has no responsibility to load or unload the vessel, barge, or other conveyance. The shipper is obliged to stow the cargo, and the consignee to effect unloading; loading and unloading expenses may be borne by either the shipper or the consignee or a third party, or divided among them, but in no case are they borne by the carrier under a free in-and-out (commonly known as F.I.O.) clause.

(Main Author: William J. Miller)

Free in and Out in International Trade

Meaning of FIO (Free in and Out), according to the Dictionary of International Trade (Global Negotiator): A transport or freight term which indicating that loading/discharging costs are not included in the freight. In the charter party context means that loading/discharging are not the shipowner's responsibility. The charterer is responsible for loading/discharging. May be used with addition of stowed (FIOS) and/or trimmed (FIOST).