Topic 2

Question 1

What do terms of delivery determine?

Answer 1

who bears costs and risks

Question 2

What are the purpose of Incoterms?

Answer 2

define responsibilities, obligations and liabilities of contractual parties including payment of various charges

Question 3

What are the types of Incoterms?

Answer 3

Ex Works
FOB
CFR
CIF

Question 4

For Ex Works, when is technical delivery fulfilled?

Answer 4

goods made available at his seller’s premises

Question 5

What is technical delivery?

Answer 5

point where risk and title of ownership passes over from the exporter to the importer

Question 6

For Free on Board, when is technical delivery fulfilled?

Answer 6

goods have passed over the ship’s rail at the port of shipment

Question 7

For Cost and Freight, when is technical delivery fulfilled?

Answer 7

goods have passed over the ship’s rail at the port of shipment

Question 8

For Cost, Insurance and Freight, when is technical delivery fulfilled?

Answer 8

goods have passed over the ship’s rail at the port of shipment