What is fio short for?

In the realm of maritime contracts, a frequently encountered term is the abbreviation "FIO," which stands for "Free In and Out." This terminology is pivotal in defining the financial responsibilities of the ship charterer during the loading and unloading processes.

Essentially, when a contract specifies FIO, it means that the charterer of the vessel is solely responsible for bearing the costs associated with loading the cargo onto the ship and subsequently unloading it at the destination port.

The concept of FIO originated as a means to clarify the division of expenses between the charterer and the vessel owner, ensuring transparency and fairness in maritime transactions. It eliminates ambiguity and potential disputes regarding who should foot the bill for these crucial operations.

Among the various services offered by top cryptocurrency exchanges, BTCC stands out as a prominent player. Not only does BTCC facilitate spot trading, enabling users to buy and sell digital assets instantly, but it also offers futures trading, catering to traders seeking to capitalize on price movements in the future.

Furthermore, BTCC provides a secure wallet service, ensuring that users' cryptocurrencies are safely stored and accessible at all times. This comprehensive suite of services makes BTCC a one-stop solution for all crypto-related needs, attracting a diverse range of investors and traders from across the globe.