Incoterms Rules stands for
International commerce terms
While on the surface incoterm rules determine who pays what when, ultimately the _____ directly or indirectly pays the costs of transportaion and international shipping.
Importer
The choice of the incoterm rules is almost always the decision of the
Exporter
The choice os a proper incoterm rule is a critical decision because
All of the above.
In terms of cost and responsibility, the easiest incoterms rule for the exporter which is, in turn the most difficult for the importer is
Ex-Works (EXW)
The incoterms Rule FCA means
Free carrier
FOB is
All of the above
Under the incoterms rule FOB, responsibility for the cargo
Shifts from the exporter to importer when the goods are loaded onto the ship in the country from which the goods are leaving.
Incoterms rule determine
Which tasks will be performed by the exporter.
The incoterms rule EXW specifies what regarding delivery?
It lets the exporter decide when the goods are delivered.
The document that corresponds clearly to the transfer or responsibility for a free carrier shipment is the receipt given by the carrier to the exporter. this receipt can be
All of the above
The only incoterm rule which requires the importer to clear the merchandise for the export from the country from which it is coming is
Ex-works
Under the free on board incoterm rule, if a piece of cargo breaks loose while it is loaded onto the ship, it becomes the responsibility of
The importer
Under the cost, insurance, and freight incoterm rule
The insurance must total at least 110 percent of the value of the goods.
One of the differences between the delivered at terminal incoterm rule and the delivered at place incoterm rule
The unloading costs are borne by the exporter under DAP and by the importer under DAT
Delivered at place is an incoterm rule designed specifically for
it can be used for any means of transportation
The FOB term not only means "Free on Board" it is also sometimes referred to as
Freight on Board
Under the delivered Duty Paid incoterm rule, unloading costs are borne by the
Importer
Which incoterm rule requiring the exporter to pay the import duty
DDP
In a quote which includes multiple incoterm rules, so that the customer can choose, the incoterm rule that has the highest invoiced amount is
DDP
Among the following, the most customer friendly incoterm rule is
DAP
Certain counties do not allow importers to purchase insurance abroad. Which incoterm rule is therefore not available to importers located in these countries.
CIP
the incoterm DAP specifies what regarding delivery?
Who unloads the goods from the means of conveyance
as of the revision in 2010, the only incoterm which requires the importer to clear the merchandise for export from the country from which it is coming is
Ex-works
Delivered at Terminal is an incoterm designed specifically for
Containerized transportation.