INCOTERMS 2020

Which INCOTERM places the maximum responsibility on the seller for delivering the goods to the buyer's nominated place?

• Ex Works

• Delivered At Place

• Cost, Insurance, and Freight

• Delivered Duty Paid

What does INCOTERMS stand for?

• Inter Commercial Terms

• International Contract Terms

• International Commercial Terms

• International Commercial Trade

How often is INCOTERMS reviewed?

• Every 2 years

• Every 5 years

• Every 10 years

• There is no fixed review period

Which INCOTERM places responsibility on the buyer to perform export clearance?

• Free On Board

• Carriage Paid To

• Ex Works

• Free Carrier

INCOTERMS rules doesn't describe which of the following?

• Cost

• Risk

• Obligation

• Payment Method

How many INCOTERMS are available?

• 10

• 11

• 12

• 13

Which INCOTERM was introduced to replace the INCOTERM - Delivered At Terminal (DAT)?

• Delivery Duty Paid (DDP)

• Delivered At Place (DAP)

• Delivered at Terminal Unloaded (DTU)

• Delivered at Place Unloaded (DPU)

For which INCOTERM is the highest level of insurance [Institute Cargo Clauses (A)]
required?

• Cost, Insurance, and Freight

• Cost and Freight

• Carriage and Insurance Paid To

• Carriage Paid To

INCOTERMS are regulated by?

• 
  U S Customs

• 
  United Nations

• International Chamber of Commerce

• World Trade Organization

What is the only INCOTERM which requires the seller to unload the goods at buyer's destination?

• Delivered at Place

• Cost and Freight

• Delivered at Place Unloaded

• Delivered Duty Paid