Intro to commercial law

INCOTERMS are published by the _____

Incoterms stands for International ___ ___

The first category of Incoterms is known as rules for ___ ___ ____.

The second category of incoterms is known as rules for ___ and ___ ___ transport

Incoterms specify the ____ of each party (e.g., who is responsible for transport or export clearance)

Incoterms specify the point in the journey where ___ transfers from the seller to the buyer.

Under the EXW rule, the seller is responsible for loading the goods onto a vehicle.

• True

• False

Under the FCA rule, the buyer is responsible for export clearance.

• True

• False

FOB is the abbreviation for

FCA is the abbreviation for