As a rule, owners have to pay the cost of loading and discharging the cargo, it being the duty of charterers to deliver the cargo free alongside at the port of loading and for consignees to take delivery from alongside at the port of destination, in each case free of charge to the vessel.
The expression “free in and out” means it is the responsibility of the charterers to load, or the consignees to discharge, the cargo for their respective accounts (that is, “free of expense to the owners”). This expression leaves some doubt whether the cost of stowage is for shippers’ account and in order to eliminate any misunderstanding the clause can be worded as follows:
“Free in and out, stowed and trimmed”
“Loaded, stowed, trimmed and discharged free of expense to the vessel.” (FIOST)
FIOS (Free in and out and stowed)
FIOST (Free in and out stowed and trimmed)
FIOSpT (Free in and out and spout trimmed)
FIOT (Free in and out -and trimmed)