When is freight paid?

Either before delivery of the cargo is made at the destination, or partially or wholly in advance of carriage, or on signing bills of lading, depending on what has been agreed in the charter party. In the liner trades it is normally pre-paid by the shipper and the bill of lading is marked accordingly.Β 

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Where the agreed rate of freight appears on a voyage charter party form, what would “US $28.50 fio” mean?

What is freight?