Origin and Etymology of fob
First Known Use: 14th centurySee Words from the same year
Recent Examples of fob from the Web
Parents can program one fob for teen drivers and use a standard teen driver package to monitor and reinforce safe driving habits such as seatbelt use, speed, distracted driving using an industry-first report card.
A key fob button unlatches the trunk — but doesn’t cause the trunk lid to rise.
People also must stop leaving their car keys, or fobs, in their cars.
And while many automakers have already ditched traditional keys in favor of a fob, those aren't required or even available to use to unlock the car.
Another building resident told a WVUE-Fox 8 reporter that a key fob was needed to get inside the facility.
In addition to approximately $60 in rolls of quarters, the electronic key fob to start the Caravan was also taken.
Suit jackets were worn with shorts that were nearly bloomers in proportion, a fob to summer, while some trousers were festooned with maxi-pockets.
But officers caught up to them; they were arrested nearby and Hudson was found in possession of the Jeep's key fob.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'fob.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Origin and Etymology of fob
First Known Use: 1630See Words from the same year
Definition of FOB
Financial Definition of FOB
What It Is
Free on board (FOB) is a contractual term that refers to the requirement that the seller deliver goods at the seller's cost via a specific route to a destination designated by the buyer.
How It Works
To understand how FOB terms work, let's look at an example.
Assume that you're a jelly dealer and you purchase 10,000 jars of jelly from Company XYZ. Company XYZ manufactures the jars of jelly in Japan and you sell them in your store in California. If your purchase contract says "FOB, San Francisco, ABC warehouse," this means Company XYZ will pay the loading and shipping costs to get the 10,000 jars of jelly from its Japanese factory to the ABC warehouse in San Francisco. The jelly becomes your property in San Francisco, meaning that if the jars are lost, destroyed, or stolen on the way to San Francisco, Company XYZ is liable because it still owns the goods while they're in transit. Likewise, if they are lost, destroyed, or stolen after they reach the ABC warehouse, you are liable.
Why It Matters
FOB terms indicate when the risk of loss shifts from the seller to the buyer. They are very important to participants in international transactions and particularly for contracts involving delicate items or items that are vulnerable to theft.
Our example illustrates the concept of FOB Destination, which is the standard and most common FOB term. But some contracts use FOB Origin, whereby the buyer becomes the owner at the time and place the product originates (in the Japanese factory, in our example). Buyers may prefer FOB Origin terms if they feel they can get a better deal on shipping than the seller can. It is important to note that the Uniform Commercial Code (UCC) generally assumes a transaction's terms are FOB Origin if a purchase contract has no specific FOB language in it. This makes the buyer responsible for freight and damaged goods.
FOB Defined for English Language Learners
Definition of fob for English Language Learners
: a short chain attached especially to a pocket watch
: a small object that is a decoration on a watch chain or a key ring
legal Definition of F.O.B.
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