I don't think your comment about transfer of ownership is quite correct. I believe that INCO terms (CFR, CIF, FOB etc.) are just shorthand ways of detailing when transfer of title (or ownership), custody, risk etc. take place. In the straightforward scheme of things, the seller may only invoice the buyer following the transfer of ownership and that is when the revenue (for the seller) and the liability (for the buyer) are recorded (i.e. the date the goods are issued to the buyer). Payment for the same is a whole other can of worms and can be before or after the transfer of ownership (or some combination of both). Pricing is also normally based around the date on which transfer of ownership occurs. It is conceivable that the invoice cannot be issued immediately on the issue of the goods because the final price is not known. All based on oil industry knowledge, but I doubt it changes much from industry to industry.
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