A term of sale meaning “free on board;” the seller’s responsibility for the goods ceases as the goods are loaded onto the overseas vessel for carriage overseas.
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An underwriting method of determining the extra rate to be charged for a substandard insured. “Standard” is rated 100. Various impairments are assigned various numerical values. The sum of 100 plus the values of the ratings of the impairments indicates the table to use in determining the rate of the policy.