Marine insurance plays an important role in domestic trade as well as international trade. Most contracts of sale require that the goods must be covered, either by the seller or the buyer against the loss or damage. Iden

A Free on Rail (FOR) contract, also known as Free on Truck (FOT) in some cases, is a type of contract where the seller delivers goods to the buyer on a railcar or truck at a specified loading point without any additional charge to the buyer for the transportation to that point. The seller handles the loading and transportation costs up to that point. Once the goods are on the railcar or truck, the buyer is responsible for any further transportation, insurance, and costs.