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    Business Dictionary

    The Yahoo Small Business Dictionary defines, explains, and cross-references more than 1,800 key small business words, phrases, acronyms, and concepts, covering topics including small business finance, management, sales, startup, exit strategy, and growth. To use the dictionary, type a word in the search box or click a letter to browse the listings alphabetically.

    Free Alongside Ship (FAS)
    An Incoterm (FAS) that means the seller is responsible for the cost of transporting and delivering goods alongside a vessel in a port in his or her country. Since the buyer has responsibility for export clearance under FAS, it is not a practical Incoterm for U.S. exports. FAS should be used only for ocean shipments since risk and responsibility shift from seller to buyer when the goods are placed within the reach of the ship's tackle (crane).

    Glossary provided by Campbell R. Harvey, Professor of Finance at Duke University.
    Copyright © 2006, Campbell R. Harvey. All worldwide rights reserved. Do not reproduce without explicit permission.

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