Nautical Term: FIOS
Definition of FIOS
Free In/Out Stowed (FIOS) refers to the cost-free element of inward and outward cargo stowage, as outlined in the FIO convention. However, it’s essential to note that FIOS does not encompass other stowage-related charges.
For example, in a shipper’s contract of carriage with the shipping line, the FIOS clause would state: The Free In/Out Stowed (FIOS) clause applies to all cargo loading and discharge operations under this contract. As per FIOS, the cost of stowage for inward and outward cargo shall be borne by the shipping line. However, it’s important to note that the FIOS clause does not cover other stowage-related charges, such as service charges, container handling charges, and demurrage charges.
Explore other nautical terms:
