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100-461: The term FOB is also used in modern domestic shipping within North America to describe the point at which a seller is no longer responsible for shipping costs. Ownership of a cargo is independent of Incoterms, which relate to delivery and risk. In international trade, ownership of the cargo is defined by the contract of sale and the bill of lading or waybill. The term "free on board", or "f.o.b."

200-429: A breach of the contract's f.o.b. terms: "If, at the time the oil was shipped at Rotterdam, the plaintiffs had intended to continue their ownership, and had taken the bill of lading in the terms in which it was made for the purpose of continuing the ownership and exercising dominion over the oil, they would in our opinion have broken their contract to ship the oil 'free on board', and the property would not have passed to

300-550: A writing system , built huge pyramids and temples , had a complex calendar , and developed the concept of zero around 400 CE. The first recorded European references to North America are in Norse sagas where it is referred to as Vinland . The earliest verifiable instance of pre-Columbian trans-oceanic contact by any European culture with the North America mainland has been dated to around 1000 CE. The site , situated at

400-470: A factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example of this is the import of labor-intensive goods by the United States from China . Instead of importing Chinese labor, the United States imports goods that were produced with Chinese labor. One report in 2010, suggested that international trade was increased when a country hosted

500-547: A key player in metals. There were already concerns that the UAE was a main recipient of majority of the smuggled gold from DRC. Lists Data on the value of exports and imports and their quantities often broken down by detailed lists of products are available in statistical collections on international trade published by the statistical services of intergovernmental and supranational organisations and national statistical institutes. The definitions and methodological concepts applied for

600-411: A network of immigrants, but the trade effect was weakened when the immigrants became assimilated into their new country. The history of international trade chronicles notable events that have affected trading among various economies. There are several models that seek to explain the factors behind international trade, the welfare consequences of trade and the pattern of trade. The following table

700-578: A part of Denmark) and Mexico classified as Latin American). It is unknown with certainty how and when first human populations first reached North America. People were known to live in the Americas at least 20,000 years ago, but various evidence points to possibly earlier dates. The Paleo-Indian period in North America followed the Last Glacial Period, and lasted until about 10,000 years ago when

800-648: A period of mountain building called the Laramide orogeny , between 80 and 55 mya. The formation of the Isthmus of Panama that connected the continent to South America arguably occurred approximately 12 to 15 mya, and the Great Lakes (as well as many other northern freshwater lakes and rivers) were carved by receding glaciers about 10,000 years ago. North America is the source of much of what humanity knows about geologic time periods. The geographic area that would later become

900-571: A powerful earthquake killed seven people in 2009. Volcanic eruptions are common in the region. In 1968, the Arenal Volcano , in Costa Rica, erupted and killed 87 people. Fertile soils from weathered volcanic lavas have made it possible to sustain dense populations in agriculturally productive highland areas. Central America has many mountain ranges ; the longest are the Sierra Madre de Chiapas ,

1000-879: A specific production, thereby increasing the advantages of specific trade over specific local production. Forms of local products that are highly localized may not be able to meet the efficiency of more large-scale, highly consolidated production in terms of efficiency, including environmental impact. A systematic, and possibly first large-scale, cross-sectoral analysis of water , energy and land in security in 189 countries that links total and sectorial consumption to sources showed that countries and sectors are highly exposed to over-exploited, insecure, and degraded such resources with economic globalization having decreased security of global supply chains . The 2020 study finds that most countries exhibit greater exposure to resource risks via international trade – mainly from remote production sources – and that diversifying trading partners

1100-540: A variety of reactions, including curiosity, trading, cooperation, resignation, and resistance. The indigenous population declined substantially following European arrival, primarily due to the introduction of Eurasian diseases, such as smallpox , to which the indigenous peoples lacked immunity, and because of violent conflicts with Europeans. Indigenous culture changed significantly and their affiliation with political and cultural groups also changed. Several linguistic groups died out , and others changed quite quickly. On

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1200-841: Is a continent in the Northern and Western Hemispheres . North America is bordered to the north by the Arctic Ocean , to the east by the Atlantic Ocean , to the southeast by South America and the Caribbean Sea , and to the west and south by the Pacific Ocean . The region includes the Bahamas , Bermuda , Canada , the Caribbean , Central America , Clipperton Island , Greenland , Mexico , Saint Pierre and Miquelon , Turks and Caicos Islands , and

1300-749: Is a list of the 25 largest trading states according to the World Trade Organization in 2021 and 2022. Source: International Trade Centre In the US, the various U.S. Presidents have held observances to promote big and small companies to be more involved with the export and import of goods and services. President George W. Bush observed World Trade Week on May 18, 2001, and May 17, 2002. On May 13, 2016, President Barack Obama proclaimed May 15 through May 21, 2016, World Trade Week, 2016. On May 19, 2017, President Donald Trump proclaimed May 21 through May 27, 2017, World Trade Week, 2017. World Trade Week

1400-640: Is a very large continent that extends from north of the Arctic Circle to south of the Tropic of Cancer . Greenland, along with the Canadian Shield , is tundra with average temperatures ranging from 10 to 20 °C (50 to 68 °F), but central Greenland is composed of a very large ice sheet. This tundra radiates throughout Canada, but its border ends near the Rocky Mountains (but still contains Alaska) and at

1500-511: Is an ancient craton which forms the geologic core of North America; it formed between 1.5 and 1.0 billion years ago during the Proterozoic eon. The Canadian Shield is the largest exposure of this craton. From the Late Paleozoic to Early Mesozoic eras, North America was joined with the other modern-day continents as part of the supercontinent Pangaea , with Eurasia to its east. One of

1600-535: Is in present-day Panama at the Darien Gap on the Colombia -Panama border, placing almost all of Panama within North America. Alternatively, some geologists physiographically locate its southern limit at the Isthmus of Tehuantepec , Mexico, with Central America extending southeastward to South America from this point. The Caribbean islands, or West Indies, are considered part of North America. The continental coastline

1700-630: Is long and irregular. The Gulf of Mexico is the largest body of water indenting the continent, followed by Hudson Bay . Others include the Gulf of Saint Lawrence and the Gulf of California . Before the Central American isthmus formed, the region had been underwater. The islands of the West Indies delineate a submerged former land bridge , which had connected North and South America via what are now Florida and Venezuela . There are several islands off

1800-568: Is not mentioned in any version of Incoterms , and is not defined by the Uniform Commercial Code in the USA. Further to that, it has been found in the US court system that "Freight On Board" is not a recognized industry term. Use of the term "Freight On Board" in contracts is therefore very likely to cause confusion. 16. ^ In Vietnam, HD Asean company specializes in đóng thùng gỗ achieving ISO standards North America North America

1900-548: Is part of North America geographically. In a geologic sense, Bermuda is not part of the Americas, but an oceanic island that was formed on the fissure of the Mid-Atlantic Ridge over 100 million years ago (mya). The nearest landmass to it is Cape Hatteras , North Carolina . However, Bermuda is often thought of as part of North America, especially given its historical, political and cultural ties to Virginia and other parts of

2000-400: Is that factors of production such as capital and labor are often more mobile within a country than across countries. Thus, international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labour, or other factors of production. Trade in goods and services can serve as a substitute for trade in factors of production. Instead of importing

2100-421: Is that international trade is typically more costly than domestic trade. This is due to the fact that cross-border trade typically incurs additional costs such as explicit tariffs as well as explicit or implicit non-tariff barriers such as time costs (due to border delays), language and cultural differences, product safety, the legal system, and so on. Another difference between domestic and international trade

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2200-686: Is the Morrison Formation of the western U.S. Canada is geologically one of the oldest regions in the world, with more than half of the region consisting of Precambrian rocks that have been above sea level since the beginning of the Palaeozoic era. Canada's mineral resources are diverse and extensive. Across the Canadian Shield and in the north there are large iron, nickel, zinc , copper, gold, lead, molybdenum , and uranium reserves. Large diamond concentrations have been recently developed in

2300-516: Is the humid subtropical climate . This area has the wettest cities in the contiguous U.S. , with annual precipitation reaching 67 in (1,700 mm) in Mobile, Alabama . Stretching from the borders of the humid continental and subtropical climates, and going west to the Sierra Nevada , south to the southern tip of Durango , north to the border with tundra climate, the steppe / desert climates are

2400-463: Is the third week of May. Every year the President declares that week to be World Trade Week. The trade-offs between local food production and distant food production are controversial with limited studies comparing environmental impact and scientists cautioning that regionally specific environmental impacts should be considered. A 2020 study indicated that local food crop production alone cannot meet

2500-479: Is unlikely to help countries and sectors to reduce these or to improve their resource self-sufficiency . A number of people in Africa , including children, were using informal or " artisanal " methods to produce gold . While millions were making a livelihood through the small-scale mining, governments of Ghana , Tanzania and Zambia complaint about the increase in illegal production and gold smuggling . Sometimes

2600-456: Is used in sales to retain commission by the outside sales representative. It is unclear where this originated. In the past, the FOB point determined when title transferred for goods. For example, at year- and period-end goods in transit under "FOB destination" ( North American usage ) appear on the seller's balance sheet but not in the buyer's balance sheet, as the risk and rewards of ownership change to

2700-444: Is used to denote that the buyer will arrange a carrier of their choice to pick the goods up at the seller's premises, and the liability for any damage or loss belongs to the buyer. Although FOB has long been stated as "Freight On Board" in sales contract terminology, this should be avoided as it does not precisely conform to the meaning of the acronym as specified in the UCC . Sometimes FOB

2800-451: The Age of Discovery and the early modern period . Present-day cultural and ethnic patterns reflect interactions between European colonists, indigenous peoples , enslaved Africans , immigrants from Europe, Asia, and descendants of these respective groups. Europe's colonization in North America led to most North Americans speaking European languages, such as English , Spanish , and French , and

2900-509: The Archaic period began. The classic stage followed the Archaic period, and lasted from approximately the 6th to 13th centuries. Beginning in 1000 AD, the Norse were the first Europeans to begin exploring and ultimately colonizing areas of North America. In 1492, the exploratory voyages of Christopher Columbus led to a transatlantic exchange , including migrations of European settlers during

3000-551: The Bering Strait during the Early-Middle Holocene . Prior to the arrival of European explorers and colonists in North America, the natives of North America were divided into many different polities, ranging from small bands of a few families to large empires. They lived in several culture areas , which roughly correspond to geographic and biological zones that defined the representative cultures and lifestyles of

3100-576: The British Columbia Coast , Western Canada , and Northern Canada . In the U.S., they include New England , the Mid-Atlantic , South Atlantic states , East North Central states , West North Central states , East South Central states , West South Central states , Mountain states , and Pacific states . The Great Lakes region and the Pacific Northwest include areas in both Canada and

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3200-863: The Caribbean Plate , whereas the Juan de Fuca Plate and Cocos Plate border the North American Plate on its western frontier. The continent can be divided into four great regions (each of which contains many subregions): the Great Plains stretching from the Gulf of Mexico to the Canadian Arctic ; the geologically young, mountainous west, including the Rocky Mountains , the Great Basin , California , and Alaska ;

3300-553: The Cordillera Isabelia , and the Cordillera de Talamanca . Between the mountain ranges lie fertile valleys that are suitable for the people; in fact, most of the population of Honduras, Costa Rica, and Guatemala live in valleys. Valleys are also suitable for the production of coffee, beans, and other crops. The indigenous peoples of the Americas have many creation myths , based on which they assert that they have been present on

3400-459: The East Coast to eastern North Dakota , and stretching down to Kansas , is the humid continental climate featuring intense seasons, with a large amount of annual precipitation, with places like New York City averaging 50 in (1,300 mm). Starting at the southern border of the humid continental climate and stretching to the Gulf of Mexico (whilst encompassing the eastern half of Texas)

3500-608: The Inuit of the high Arctic arrived in North America much later than other native groups, evidenced by the disappearance of Dorset culture artifacts from the archaeological record and their replacement by the Thule people . During the thousands of years of native habitation on the continent, cultures changed and shifted. One of the oldest yet discovered is the Clovis culture (c. 9550–9050 BCE) in modern New Mexico . Later groups include

3600-694: The Mississippian culture and related Mound building cultures, found in the Mississippi River valley and the Pueblo culture of what is now the Four Corners . The more southern cultural groups of North America were responsible for the domestication of many common crops now used around the world, such as tomatoes, squash , and maize . As a result of the development of agriculture in the south, many other cultural advances were made there. The Mayans developed

3700-505: The United States . North America covers an area of about 24,709,000 square kilometers (9,540,000 square miles), representing approximately 16.5% of the Earth 's land area and 4.8% of its total surface area. It is the third-largest continent by size after Asia and Africa , and the fourth-largest continent by population after Asia, Africa, and Europe . As of 2021 , North America's population

3800-402: The World Trade Organization . These organizations work towards the facilitation and growth of international trade. Statistical services of intergovernmental and supranational organizations and governmental statistical agencies publish official statistics on international trade. A product that is transferred or sold from a party in one country to a party in another country is an export from

3900-480: The first official name given to Mexico. North America includes several regions and subregions, each of which have their own respective cultural, economic, and geographic regions. Economic regions include several regions formalized in 20th- and 21st-century trade agreements, including NAFTA between Canada , Mexico , and the United States , and CAFTA between Central America , the Dominican Republic , and

4000-453: The 1490s, building cities, putting the resident indigenous populations to work, raising crops for Spanish settlers and panning gold to enrich the Spaniards. Much of the indigenous population died due to disease and overwork, spurring the Spaniards on to claim new lands and peoples. An expedition under the command of Spanish settler, Hernán Cortés , sailed westward in 1519 to what turned out to be

4100-422: The 2010 revision. In North America, FOB is written into a sales agreement to determine where the liability responsibility for the goods transfers from the seller to the buyer. FOB stands for "Free On Board". There is no line item payment by the buyer for the cost of getting the goods onto the transport. There are two possibilities: "FOB origin", or "FOB destination". "FOB origin" means the transfer occurs as soon as

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4200-615: The Arctic, making Canada one of the world's largest producers. Throughout the Shield, there are many mining towns extracting these minerals. The largest, and best known, is Sudbury , Ontario. Sudbury is an exception to the normal process of forming minerals in the Shield since there is significant evidence that the Sudbury Basin is an ancient meteorite impact crater . The nearby, but less-known Temagami Magnetic Anomaly has striking similarities to

4300-635: The Caribbean islands. France took the western half of Hispaniola and developed Saint-Domingue as a cane sugar producing colony worked by black slave labor. Britain took Barbados and Jamaica , and the Dutch and Danes took islands previously claimed by Spain. Britain did not begin settling on the North American mainland until a hundred years after the first Spanish settlements, since it sought first to control nearby Ireland . The first permanent English settlement

4400-616: The Cod fish", in reference to the abundance of cod fish on the East Coast . Waldseemüller used the Latin version of Vespucci's name, Americus Vespucius, in its feminine form of "America", following the examples of "Europa", "Asia", and "Africa". Americus originated from Medieval Latin Emericus (see Saint Emeric of Hungary ), coming from the Old High German name Emmerich . Map makers later extended

4500-419: The North America's southeastern coast, Spanish explorer Juan Ponce de León , who had accompanied Columbus's second voyage, visited and named in 1513 La Florida . As the colonial period unfolded, Spain, England, and France appropriated and claimed extensive territories in North America eastern and southern coastlines. Spain established permanent settlements on the Caribbean islands of Hispaniola and Cuba in

4600-472: The Sudbury Basin. Its magnetic anomalies are very similar to the Sudbury Basin, and so it could be a second metal-rich impact crater. The Shield is also covered by vast boreal forests that support an important logging industry. The United States can be divided into twelve main geological provinces: Each province has its own geologic history and unique features. The geology of Alaska is typical of that of

4700-522: The U.S. North America occupies the northern portion of the landmass generally referred to as the New World, the Western Hemisphere , the Americas, or simply America, which, in many countries, is considered a single continent with North America a subcontinent . North America is the third-largest continent by area after Asia and Africa . North America's only land connection to South America

4800-516: The UAE. In July 2020, a report by Swissaid highlighted that the Dubai-based precious metal refining firms, including Kaloti Jewellery International Group and Trust One Financial Services (T1FS), received most of their gold from poor African states like Sudan . The gold mines in Sudan were seldom under the militias involved in war crimes and human rights abuses . The Swissaid report also highlighted that

4900-484: The United States has been the source of more varieties of dinosaurs than any other modern country. According to paleontologist Peter Dodson, this is primarily due to stratigraphy, climate and geography, human resources, and history. Much of the Mesozoic Era is represented by exposed outcrops in the many arid regions of the continent. The most significant Late Jurassic dinosaur-bearing fossil deposit in North America

5000-600: The United States, and Mexico. France , Italy , Portugal , Spain , Romania , Greece , and the countries of Latin America use a six-continent model , with the Americas viewed as a single continent and North America designating a subcontinent comprising Canada , the United States , Mexico, and Saint Pierre and Miquelon (politically part of France), and often including Greenland and Bermuda . North America has historically been known by other names, including Spanish North America, New Spain , and América Septentrional,

5100-575: The United States. North America is divided linguistically and culturally into two primary regions, Anglo-America and Latin America . Anglo-America includes most of North America, Belize , and Caribbean islands with English -speaking populations. There are also regions, including Louisiana and Quebec , with large Francophone populations; in Quebec , French is the official language. . The southern portion of North America includes Central America and non-English speaking Caribbean nations. The north of

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5200-537: The area had shifted to the Aztec Empire , whose capital city Tenochtitlan was located further north in the Valley of Mexico . The Aztecs were conquered in 1521 by Hernán Cortés . During the so-called Age of Discovery , Europeans explored overseas and staked claims to various parts of North America, much of which was already settled by indigenous peoples. Upon Europeans' arrival in the " New World ", indigenous peoples had

5300-407: The border of one country to enter the other country under the conditions of FOB destination are due at the customs port of the destination country. With the advent of e-commerce , most commercial electronic transactions occur under the terms of "FOB shipping point" or " FCA shipping point". Some sources claim that FOB stands for "Freight On Board". This is not the case. The term "Freight On Board"

5400-436: The buyer at the "destination" port. It is much easier to determine when title transfers by referring to the agreed upon terms and conditions of the transaction; typically, title passes with risk of loss. The transfer of title may occur at a different time (or event) than the FOB shipping term. The transfer of title is the element of revenue that determines who owns the goods and the applicable value. Import fees when they reach

5500-674: The chief global strategist of International Resources Holding (IRH), Sibtein Alibhai, from the UAE approached a number of gold traffickers in Democratic Republic of Congo. The firm is a unit of IHC, which is controlled by Sheikh Tahnoun bin Zayed. In 2023, IRH acquired Zambia’s Mopani copper-cobalt complex in exchange of a commitment to put in over $ 1 billion into the mine. It was also aggressively looking for mining deals, particularly in Africa, to turn into

5600-404: The container has been sealed. The standards have noted this. Incoterms 1990 stated, When the ship's rail serves no practical purpose, such as in the case of roll-on/roll-off or container traffic, the FCA term is more appropriate to use. Incoterms 2000 adopted the wording, If the parties do not intend to deliver the goods across the ship's rail, the FCA term should be used. The phrase passing

5700-432: The continent maintains recognized regions as well. In contrast to the common definition of North America, which encompasses the whole North American continent, the term "North America" is sometimes used more narrowly to refer only to four nations, Canada, Greenland, Mexico, and the U.S. The U.S. Census Bureau includes Saint Pierre and Miquelon, but excludes Mexico from its definition. The term Northern America refers to

5800-452: The continent's coasts; principally, the Arctic Archipelago, the Bahamas , Turks and Caicos , the Greater and Lesser Antilles , the Aleutian Islands (some of which are in the Eastern Hemisphere proper), the Alexander Archipelago , the many thousand islands of the British Columbia Coast, and Newfoundland. Greenland , a self-governing Danish island, and the world's largest , is on the same tectonic plate (the North American Plate ) and

5900-410: The continent. The vast majority of North America is on the North American Plate. Parts of western Mexico, including Baja California, and of California , including the cities of San Diego , Los Angeles , and Santa Cruz , lie on the eastern edge of the Pacific Plate , with the two plates meeting along the San Andreas Fault . The southernmost portion of the continent and much of the West Indies lie on

6000-604: The cordillera, while the major islands of Hawaii consist of Neogene volcanics erupted over a hot spot . Central America is geologically active with volcanic eruptions and earthquakes occurring from time to time. In 1976 Guatemala was hit by a major earthquake , killing 23,000 people; Managua, the capital of Nicaragua, was devastated by earthquakes in 1931 and 1972, the last one killing about 5,000 people; three earthquakes devastated El Salvador, one in 1986 and two in 2001; one earthquake devastated northern and central Costa Rica in 2009, killing at least 34 people; in Honduras

6100-414: The cost of loading the goods on to the cargo ship (this includes inland haulage, customs clearance, origin documentation charges, demurrage if any, origin port handling charges, in this case Vancouver). The buyer pays for all costs beyond that point, including unloading. Responsibility for the goods is with the seller until the goods are loaded on board the ship. Once the cargo is on board, the buyer assumes

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6200-514: The cultures of the region commonly reflect Western traditions . However, relatively small parts of North America in Canada, the United States, Mexico, and Central America have indigenous populations that continue adhering to their respective pre-European colonial cultural and linguistic traditions. The Americas were named after the Italian explorer Amerigo Vespucci by German cartographers Martin Waldseemüller and Matthias Ringmann . Vespucci explored South America between 1497 and 1502, and

6300-420: The defendants; but if when they shipped the oil they intended to perform their contract and deliver it 'free on board' for the defendants, we think they did perform it, and the property in the oil passed from them to the defendants. Later cases such as Mirabita v Ottoman Imperial Bank allowed that a contract could make the transfer of property subject to payment, so long as the intention behind this reservation

6400-2081: The demand for most food crops with "current production and consumption patterns" and the locations of food production at the time of the study for 72–89% of the global population and 100–km radiuses as of early 2020. Studies found that food miles are a relatively minor factor of carbon emissions, albeit increased food localization may also enable additional, more significant, environmental benefits such as recycling of energy, water, and nutrients. For specific foods regional differences in harvest seasons may make it more environmentally friendly to import from distant regions than more local production and storage or local production in greenhouses. Qualitative differences between substitutive products of different production regions may exist due to different legal requirements and quality standards or different levels of controllability by local production- and governance -systems which may have aspects of security beyond resource security, environmental protection , product quality and product design and health . The process of transforming supply as well as labor rights may differ as well. Local production has been reported to increase local employment in many cases. A 2018 study claimed that international trade can increase local employment. A 2016 study found that local employment and total labor income in both manufacturing and nonmanufacturing were negatively affected by rising exposure to imports. Local production in high-income countries, rather than distant regions may require higher wages for workers. Higher wages incentivize automation which could allow for automated workers' time to be reallocated by society and its economic mechanisms or be converted into leisure-like time. Local production may require knowledge transfer , technology transfer and may not be able to compete in efficiency initially with specialized , established industries and businesses, or in consumer demand without policy measures such as eco-tariffs . Regional differences may cause specific regions to be more suitable for

6500-447: The driest in the U.S. Highland climates cut from north to south of the continent, where subtropical or temperate climates occur just below the tropics, as in central Mexico and Guatemala . Tropical climates appear in the island regions and in the subcontinent's bottleneck, found in countries and states bathed by the Caribbean Sea or to the south of the Gulf of Mexico and the Pacific Ocean . Precipitation patterns vary across

6600-408: The end of the Canadian Shield, near the Great Lakes . Climate west of the Cascade Range is described as being temperate weather with average precipitation 20 inches (510 millimeters). Climate in coastal California is described to be Mediterranean , with average temperatures in cities like San Francisco ranging from 57 to 70 °F (14 to 21 °C) over the course of the year. Stretching from

6700-421: The first American inhabitants sailed from Beringia some 13,000 years ago, with widespread habitation of the Americas during the end of the Last Glacial Period , in what is known as the Late Glacial Maximum , around 12,500 years ago. The oldest petroglyphs in North America date from 15,000 to 10,000 years before present. Genetic research and anthropology indicate additional waves of migration from Asia via

6800-795: The geographic center of either the 50 states, the conterminous United States, or the North American continent." Nonetheless, there is a 4.6-meter (15 ft) field stone obelisk in Rugby claiming to mark the center. The North American continental pole of inaccessibility is located 1,650 km (1,030 mi) from the nearest coastline, between Allen and Kyle, South Dakota at 43°22′N 101°58′W  /  43.36°N 101.97°W  / 43.36; -101.97  ( Pole of Inaccessibility North America ) . Canada can be divided into roughly seven physiographic divisions: The lower 48 U.S. states can be divided into roughly eight physiographic divisions: Mexico can be divided into roughly fifteen physiographic divisions: North America

6900-439: The goods are safely on board the transport. "FOB destination" means the transfer occurs the moment the goods are removed from the transport at the destination. "FOB origin" (also sometimes phrased as "FOB shipping" or "FOB shipping point") indicates that the sale is considered complete at the seller's shipping dock, and thus the buyer of the goods is responsible for freight costs and liability during transport. With "FOB destination",

7000-413: The goods is transferred. The last distinction is important for determining liability or risk of loss for goods lost or damaged in transit from the seller to the buyer. For example, a person in Miami purchasing equipment from a manufacturer in Chicago could receive a price quote of "$ 5000 FOB Chicago", which would indicate that the buyer would be responsible for the shipping from Chicago to Miami. If

7100-416: The goods to the port of shipment, plus loading costs. The buyer pays the cost of marine freight transport, insurance , unloading, and transportation from the arrival port to the final destination. The passing of risks occurs when the goods are loaded on board at the port of shipment. For example, "FOB Vancouver" indicates that the seller will pay for transportation of the goods to the port of Vancouver , and

7200-838: The illicit gold coming into Dubai from Africa is imported in large quantities by the world's largest refinery in Switzerland , Valcambi . Another report in March 2022 revealed the contradiction between the lucrative gold trade of West African countries and the illicit dealings. Like Sudan , Democratic Republic of Congo (DRC), Ghana and other states, differences were recorded in the gold production in Mali and its trade with Dubai, UAE. The third largest gold exporter in Africa, Mali imposed taxes only on first 50kg gold exports per month, which allowed several small-scale miners to enjoy tax exemptions and smuggle gold worth millions. In 2014, Mali's gold production

7300-419: The indigenous people who lived there, including the bison hunters of the Great Plains and the farmers of Mesoamerica . Native groups also are classified by their language families , which included Athapascan and Uto-Aztecan languages. Indigenous peoples with similar languages did not always share the same material culture , however, and were not necessarily always allies. Anthropologists speculate that

7400-412: The international trade systems . International trade is, in principle, not different from domestic trade as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. However, in practical terms, carrying out trade at an international level is typically a more complex process than domestic trade. The main difference

7500-460: The land since its creation, but there is no evidence that humans evolved there. The specifics of the initial settlement of the Americas by ancient Asians are subject to ongoing research and discussion. The traditional theory has been that hunters entered the Bering Land Bridge between eastern Siberia and present-day Alaska from 27,000 to 14,000 years ago. A growing viewpoint is that

7600-640: The mainland in Mexico. With local indigenous allies, the Spanish conquered the Aztec empire in central Mexico in 1521. Spain then established permanent cities in Mexico, Central America, and Spanish South America in the sixteenth century. Once Spaniards conquered the high civilization of the Aztecs and Incas, the Caribbean was a backwater of the Spanish empire. Other European powers began to intrude on areas claimed by Spain, including

7700-912: The middle into the main range of the Rockies and the coast ranges in California , Oregon , Washington , and British Columbia , with the Great Basin—a lower area containing smaller ranges and low-lying deserts—in between. The highest peak is Denali in Alaska. The U.S. Geographical Survey (USGS) states that the geographic center of North America is "6 miles [10 km] west of Balta, Pierce County, North Dakota " at about 48°10′N 100°10′W  /  48.167°N 100.167°W  / 48.167; -100.167 , about 24 kilometers (15 mi) from Rugby, North Dakota . The USGS further states that "No marked or monumented point has been established by any government agency as

7800-450: The name America to North America. In 1538, Gerardus Mercator used the term America on his world map of the entire Western Hemisphere . On his subsequent 1569 map , Mercator called North America "America or New India" ( America sive India Nova ). The Spanish Empire called its territories in North and South America "Las Indias", and the name given to the state body that oversaw the region

7900-493: The northernmost countries and territories of North America: the U.S., Bermuda , Canada, Greenland, and St. Pierre and Miquelon. Although the term does not refer to a unified region, Middle America includes Mexico, Central America, and the Caribbean. North America's largest countries by land area are Canada and the U.S., both of which have well-defined and recognized subregions. In Canada, these include (from east to west) Atlantic Canada , Central Canada , Canadian Prairies ,

8000-440: The northernmost extent of the island named Newfoundland , has provided unmistakable evidence of Norse settlement. Norse explorer Leif Erikson (c. 970–1020 CE) is thought to have visited the area. Erikson was the first European to make landfall on the continent (excluding Greenland). The Mayan culture was still present in southern Mexico and Guatemala when the Spanish conquistadors arrived, but political dominance in

8100-719: The originating country, and an import to the country receiving that product. Imports and exports are accounted for in a country's current account in the balance of payments . Trading globally may give consumers and countries the opportunity to be exposed to new markets and products. Almost every kind of product can be found in the international market , for example: food, clothes, spare parts, oil, jewellery, wine, stocks, currencies, and water. Services are also traded, such as in tourism , banking , consulting , and transportation . Advanced technology (including transportation ), globalization , industrialization , outsourcing and multinational corporations have major impacts on

8200-461: The procedure involved criminal operations and even human and environmental cost. Investigative reports based on Africa's export data revealed that gold in large quantities is smuggled out of the country through the United Arab Emirates , without any taxes being paid to the producing states. Analysis also reflected discrepancies in the amount exported from Africa and the total gold imported into

8300-586: The raised but relatively flat plateau of the Canadian Shield in the northeast; and the varied eastern region, which includes the Appalachian Mountains, the coastal plain along the Atlantic seaboard, and the Florida peninsula. Mexico, with its long plateaus and cordilleras , falls largely in the western region, although the eastern coastal plain does extend south along the Gulf. The western mountains are split in

8400-500: The region, and as such rainforest , monsoon , and savanna types can be found, with rains and high temperatures throughout the year. Notable North American fauna include the bison , black bear , jaguar , cougar , prairie dog , turkey , pronghorn , raccoon , coyote , and monarch butterfly . Notable plants that were domesticated in North America include tobacco , maize , squash , tomato , sunflower , blueberry , avocado , cotton , chile pepper , and vanilla . Laurentia

8500-478: The results of the formation of Pangaea was the Appalachian Mountains , which formed some 480 mya, making it among the oldest mountain ranges in the world. When Pangaea began to rift around 200 mya, North America became part of Laurasia , before it separated from Eurasia as its own continent during the mid- Cretaceous period. The Rockies and other western mountain ranges began forming around this time from

8600-466: The rise in recent centuries. Carrying out trade at an international level is a complex process when compared to domestic trade . When trade takes place between two or more states , factors like currency, government policies, economy, judicial system , laws, and markets influence trade. To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as

8700-456: The risk. The use of "FOB" originated in the days of sailing ships . When the ICC first wrote their guidelines for the use of the term in 1936, the ship's rail was still relevant, as goods were often passed over the rail by hand . In 1954, in the case of Pyrene Co. Ltd. v. Scindia Steam Navigation Co. Ltd. , Justice Devlin , ruling on a matter relating to liability under an FOB contract, described

8800-455: The sale is complete at the buyer's doorstep and the seller is responsible for freight costs and liability during transport. The two terms have a specific meaning in commercial law and cannot be altered. But the FOB terms do not need to be used, and often are not. In this case the specific terms of the agreement can vary widely, in particular which party, buyer or seller, pays for the loading costs and shipment costs, and/or where responsibility for

8900-614: The same seller issued a price quote of "$ 5000 FOB Miami", then the seller would cover shipping to the buyer's location. International shipments typically use "FOB" as defined by the Incoterms standards , where it always stands for "Free On Board". Domestic shipments within the United States or Canada often use a different meaning, specific to North America, which is inconsistent with the Incoterms standards. North American FOB usage corresponds to Incoterms approximately as follows: A related but separate term "CAP" ("customer-arranged pickup")

9000-459: The ship's rail is no longer in use, having been dropped from the FOB Incoterm in the 2010 revision. Due to potential confusion with domestic North American usage of "FOB", it is recommended that the use of Incoterms be explicitly specified, along with the edition of the standard. For example, "FOB New York (Incoterms 2000)". Incoterms apply to both international trade and domestic trade , as of

9100-441: The situation thus: Only the most enthusiastic lawyer could watch with satisfaction the spectacle of liabilities shifting uneasily as the cargo sways at the end of a derrick across a notional perpendicular projecting from the ship's rail. In the modern era of containerization , the term "ship's rail" is somewhat archaic for trade purposes, as with a sealed shipping container, there is no way of establishing when damage occurred after

9200-540: Was called the Council of the Indies . The United Nations and its statistics division recognize North America as including three regions: Northern America, Central America , and the Caribbean . "Northern America" is a distinct term from "North America", excluding Central America, which itself may or may not include Mexico . In the limited context of regional trade agreements, the term is used to reference three nations: Canada,

9300-458: Was estimated as over 592 million people in 23 independent states , or about 7.5% of the world's population. In human geography , the terms "North America" and "North American" can refer to Canada, the United States, Mexico, and Greenland or, alternatively, Canada, Greenland and the US (Mexico being classified as part of Latin America ) or simply Canada and the US (Greenland being classified as either Arctic or European (due to its political status as

9400-540: Was exported from Africa, and the UAE accounted for 93% of the undeclared exports. Following the Emirates, next two prime importers were Switzerland and India. Majority of the artisanal gold extracted in the 18 African countries ends up in the Emirates. As per Swiss regulations, gold’s place of origin is usually where it is last refined, because of which smuggled gold linked to conflicts and human rights violations legally enters Switzerland. A United Nations report revealed that

9500-790: Was in Jamestown, Virginia in 1607, followed by additional colonial establishments on the east coast from present-day Georgia in the south to Massachusetts in the north, forming the Thirteen Colonies of British America. The English did not establish settlements north or east of the St. Lawrence Valley in present-day Canada until after the conclusion of the American Revolutionary War . Britain's early settlements in present-day Canada included St. John's, Newfoundland in 1630 and Halifax, Nova Scotia in 1749. The first permanent French settlement

9600-608: Was in Quebec City, Quebec in 1608 International trade International trade is the exchange of capital , goods , and services across international borders or territories because there is a need or want of goods or services. (see: World economy ) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha , Silk Road , Amber Road , salt roads ), its economic, social, and political importance has been on

9700-404: Was of 45.8 tonnes, while the UAE's gold import were at 59.9 tonnes. In May 2024, a report released by Swissaid revealed that the prime recipient of tens of billions of dollars of smuggled African gold each year had been the UAE. Between the 2012 and 2022, 2596 tonnes of gold undeclared was exported out of Africa to the UAE. In 2022 alone, 435 tonnes (worth about $ 31 billion) of gold not declared

9800-468: Was the first European to suggest that the Americas represented a landmass not then known to the Europeans. In 1507, Waldseemüller published a world map, and placed the word "America" on the continent of present-day South America. The continent north of present-day Mexico was then referred to as Parias. On a 1553 world map published by Petrus Apianus , North America was called "Baccalearum", meaning "realm of

9900-532: Was to secure payment and not to prevent transfer of possession. Under the Incoterms 2020 standard published by the International Chamber of Commerce , FOB is only used in sea freight and stands for "Free On Board". The term is always used in conjunction with a port of loading. Destination need not be specified and may be left "free". Indicating "FOB port " means that the seller pays for transportation of

10000-447: Was used historically in relation to the transfer of risk from seller to buyer as goods are shipped. There appears to have been an assumption that property and risk would pass from the seller to the buyer at the same time. In the case of Browne v Hare , settled in the Court of Exchequer Chamber in 1858, it was noted that a shipper's attempt to reserve title after shipment would have constituted

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