F.A.S. Definition

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F.A.S. (FREE ALONG SIDE), e.g. 'F.A.S. New York', means that, for instance, if goods are shipped from the State of Nevada in the U.S. to Madrid, Spain, no charges for shipment are made to the importer until the goods are "free alongside the vessel" in New York. After this point, charges may be applied to the importer.

Learn new Accounting Terms

CLEARED ITEMS are accounts payable documents which have been paid.

UN-PRESENTED CHECK is a check that was written but has not yet been forwarded to or paid by the bank on which it is drawn.

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