When the Incoterm is Ex-Works, the buyer’s nominated freight forwarder must arrange for the loading of the goods into the truck at the factory. In practice, the seller assists in this task.
True
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15
Cheapest and best way of transporting heavy and bulky goods over a long distance.
Sea
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15
At what point does risk transfer from the seller to the buyer if the terms of shipment are DAP(destination address)?
Once goods are delivered at the destination address.
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15
A Shipment has been ordered from China, via maritime transportation using CPT Incoterm. What is NOT covered under CPT Incoterm?
Insurance
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15
What is the meaning of Incoterm FAS?
Free Alongside Ship
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15
_____ are common terms and rules developed to mitigate language barriers in international shipping.
INCOTERMS
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15
If all the goods to be transported are accommodated in one single container, it is called.....
FCL (Full Container Load)
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15
Under FOB Incoterms (Free On Board), who bears the cost of Customs & Clearance
Buyer
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15
When the Incoterm is Ex Works, the buyer's nominated freight forwarder must arrange for the loading of the goods into the truck at the factory. In practice, the seller assts in this risk.
True
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15
What are Incoterms 2010?
A set of internationally recognized contract terms that define buyer/seller's responsibilities when included in international contracts.
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baam
Lose 10 points!
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rocket
Go to first place!
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shark
Other team loses 15 points!
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baam
Lose 20 points!
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15
When do we invoice if Incoterms 2010 are CIP (destination address)
Once goods are handed over to the first carrier or forwarder
