FAS stands for 'Free Alongside Ship'. It is an Incoterm used in international trade where the seller fulfills their obligation to deliver when the goods have been placed alongside the vessel on the quay or in lighters at the named port of shipment. From that point, the buyer bears all costs and risks of loss or damage.

FOB stands for Free On Board. It is a legal term used in international trade to indicate the point at which the seller's responsibility for the goods ends and the buyer's responsibility begins, specifically when the goods are loaded onto the shipping vessel.

Marine insurance policies contain specific warranties and conditions. If a vessel is unseaworthy (not capable of the voyage), deviates from the agreed route without justification, or engages in illegal or unnecessary trade, the insurer may void the policy or deny the claim, as these actions significantly increase the risk beyond what was originally insured.

CIF stands for Cost, Insurance, and Freight. It is an international shipping agreement where the seller is responsible for the costs, insurance, and freight charges required to bring the goods to the port of destination.

A Letter of Credit (LC) is a financial document issued by a bank at the request of an importer. It serves as a guarantee that the bank will pay the exporter a specified amount of money, provided that the exporter presents the required shipping and compliance documents by the specified deadline. This instrument mitigates the risk of non-payment for the exporter and ensures the importer receives the goods.