incoterms Flashcards
1
Q
what are incoterms?
A
a source of law, born from habits of merchant. they are now standardized in contracts
2
Q
how many types of incoterms are there ? what are their purposes ?
A
There are 6 types. Each of their names means the type of “delivery” of goods it is. And that is important since it also gives when the “transfer of risks” occurs
3
Q
what do the incoterms distinguish ?
A
2 things : (1) who is in charge for paying and for what
and (2) where/ when is the risk transfered
4
Q
who has the responsibility to take delivery ? are there any situations that are different ?
A
it is the responsibility of the buyer with the doc from the bank, but there are cases where you can ask someone to take it for you, they need a document for it.
