INCOTERMS

Please select the Incoterm that better fist the following scenario:

The company ABC located in New Orleans has sold a load of cell phones to company 123 located in Manaus, ABC is responsible and liable to package and prepare the load at the warehouse of origin.

• CPT

• FOB

• CIF

• EXW

Answer explanation

Exwork applies when the transfer of responsibility and liability of the the goods and transportation cost is done once the cargo has left the warehouse of origin.

Please name the incoterms that ONLY apply to Ocean Transportation

The_______ incoterm applies when the seller is responsible for the transportation cost until the cargo has arrived at its destination including clearance and the risk of the goods is transferred to the buyer at the port of loading.

Please select the option that better fits the below statement.

Under this incoterm, the seller is responsible for the transportation cost until the cargo has arrived at the destination including customs clearance and insurance. The transfer of the risk is done once the cargo is loaded at Origin.

• DDP

• CIF

• CRF

• FAS

The FOB incoterm establishes that the seller is responsible for the transportation cost and risk of the goods until the cargo is inside the port of Origin.

• True

• False