INCOTERMS | YOUR SHORTCUT TO SUCCESS |
TRUSTED, TESTED, AND TRUE!
Inco terms stand for - answer: international commerce terms
Pre-carriage - answer: the domestic transportation in the exporting country
Main carriage - answer: the international transportation between the exporting country
and importing country
On-carriage - answer: the domestic transportation in the importing country
Incoterms reflect - answer: the way shipping is conducted
The changes implemented in 2010 were designed to - answer: facilitate the division of
responsibilities between the exporter and importer
Incoterms expressed tactically - answer: deal with the identification of the physical
location in the supply chain where risk of loss or damage to the goods and obligations
for transportation, customs and related costs shift from the seller to the buyer
Incoterms define - answer: which tasks will be performed by the exporter, which tasks
will be performed by the importer, which activities will be paid by the exporter, which
activities will be paid by the importer, the exact point at which the responsibility for the
goods transfers from the exporter to the importer
Choosing the correct incoterms rule depends on - answer: which export strategy a
company is following
Type of product being sold, method of shipment, ability and willingness of either of the
exporter and importer to perform the tasks involved, and the amount of trust place by
1
APPHIA - Crafted with Care and Precision for Academic Excellence.
, either of the parties in the other party - answer: important factors for choosing
incoterms
Multi- or omni- modal - answer: any means of transportation
Any means of transportation includes (4) - answer: ocean, road, air, train
Oldest terms of trade - answer: ocean transportation incoterms
Two incoterms added - answer: dat(delivered at terminal) and dap (delivered at place)
If incoterms aren't laws, how can they be enforced between an exporter in one country
and an importer in another? - answer: when a trade term is referenced in a contract,
that term takes on the force of law and any questions regarding delivery of the goods
will be interrupted pursuant to the incoterms rules
In a contract for sale between a seller and buyer incoterms do not cover - answer: title
of transfer, payment terms, remedies for breach of contract, any other non-delivery
related clause in a comprehensive sales contract
There is big difference between who is responsible for the well being of goods in transit
and who - answer: actually owns them
Clarity to the meaning of delivery - answer: link it directly to the transfer of risk of loss or
damage to the goods
Delivery and risk transfer occur in the - answer: same place and should be considered
synonymous
2
APPHIA - Crafted with Care and Precision for Academic Excellence.
TRUSTED, TESTED, AND TRUE!
Inco terms stand for - answer: international commerce terms
Pre-carriage - answer: the domestic transportation in the exporting country
Main carriage - answer: the international transportation between the exporting country
and importing country
On-carriage - answer: the domestic transportation in the importing country
Incoterms reflect - answer: the way shipping is conducted
The changes implemented in 2010 were designed to - answer: facilitate the division of
responsibilities between the exporter and importer
Incoterms expressed tactically - answer: deal with the identification of the physical
location in the supply chain where risk of loss or damage to the goods and obligations
for transportation, customs and related costs shift from the seller to the buyer
Incoterms define - answer: which tasks will be performed by the exporter, which tasks
will be performed by the importer, which activities will be paid by the exporter, which
activities will be paid by the importer, the exact point at which the responsibility for the
goods transfers from the exporter to the importer
Choosing the correct incoterms rule depends on - answer: which export strategy a
company is following
Type of product being sold, method of shipment, ability and willingness of either of the
exporter and importer to perform the tasks involved, and the amount of trust place by
1
APPHIA - Crafted with Care and Precision for Academic Excellence.
, either of the parties in the other party - answer: important factors for choosing
incoterms
Multi- or omni- modal - answer: any means of transportation
Any means of transportation includes (4) - answer: ocean, road, air, train
Oldest terms of trade - answer: ocean transportation incoterms
Two incoterms added - answer: dat(delivered at terminal) and dap (delivered at place)
If incoterms aren't laws, how can they be enforced between an exporter in one country
and an importer in another? - answer: when a trade term is referenced in a contract,
that term takes on the force of law and any questions regarding delivery of the goods
will be interrupted pursuant to the incoterms rules
In a contract for sale between a seller and buyer incoterms do not cover - answer: title
of transfer, payment terms, remedies for breach of contract, any other non-delivery
related clause in a comprehensive sales contract
There is big difference between who is responsible for the well being of goods in transit
and who - answer: actually owns them
Clarity to the meaning of delivery - answer: link it directly to the transfer of risk of loss or
damage to the goods
Delivery and risk transfer occur in the - answer: same place and should be considered
synonymous
2
APPHIA - Crafted with Care and Precision for Academic Excellence.
