The 'Incoterms Assessment' quiz tests knowledge on international commercial terms (Incoterms) crucial for global trade. It assesses understanding of risk transfer, responsibilities in shipping arrangements, and customs duties across different Incoterms like DAP, EXW, and DDP, aligning with ICC regulations.
Once the goods are handed over to the first carrier or forwarder.
Once goods are delivered at the destination address.
Once goods leave the factory at origin.
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DDP
EXW
FOB
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DAP
FOB
DDP
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DDP
EXW
FOB
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The law relating the international carriage of goods.
A set of internationally recognized contract terms that define buyer/seller's responsibilities when included in international contracts.
A shorthand used by the freight industry for indicating whether the buyer or seller pays for freight costs during the shipment of goods.
A set of contract terms indicating where the title to the goods passes in international shipments.
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True
False
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CIF
DAP
CPT
CFR
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DAP
DAT
DDP
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True
False
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Export Formalities
Foreign Pre carriage
Freight costs to port of discharge
Devanning/handling at port of discharge
Inland Costs(IPI)to destination terminal for Customs Clearance(place of delivery on HBOL)
Terminal Handling at place of delivery on HBOL
U S Customs Clearance
Duties
Insurance
Delivery to the customer door
Make cargo ready at shipper warehouse.
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CPT
DAP
FCA
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Indicate the seller must pay for the freight to arrival in buyer's country
Assume risk for the international movement of goods is the buyer's not the seller's
Can be used for any mode of transportation
Indicate the seller must buy cargo insurance in the name of the buyer
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Export Formalities
Foreign Pre Carriage
Freight costs to port of discharge
Devanning/handling at port of discharge
Inland costs(IPI) to destination terminal for Customs Clearance(Place of delivery on HBOL).
Terminal handling at place of delivery on HBOL.
U S Customs Clearance
Duties
Insurance
Delivery to the customer door
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Quiz Review Timeline (Updated): Mar 21, 2023 +
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