Incoterms 2020 (FNI 8)

What does FCA stand for in Incoterms 2020?

• Freight Cost Adjustment

• Forwarding Cargo Agent

• Free Carrier

• Free Shipper

Which Incoterm places the most responsibility on the seller?

• FOB - Free on Board

• DDP - Delivered Duty Paid

• EXW - Ex Works

• CIF - Cost, Insurance, and Freight

What is the main purpose of Incoterms?

• To determine the weight of goods in international trade.

• To define the responsibilities of sellers and buyers in international trade.

• To establish the quality standards of goods in international trade.

• To regulate the price of goods in international trade.

In Incoterms 2020, which term is used for sea and inland waterway transport only?

• DDP

• CIF

• EXW

• FCA

What does DPU stand for in Incoterms 2020?

• Delivered at Place Unloaded

• Destination Point Unloading

• Direct Pick Up

• Delivered at Port Unloaded

Which Incoterm requires the seller to clear goods for export?

• DDP

• EXW

• CIF

• FOB

What is the difference between FCA and FOB in Incoterms 2020?

• The size of the shipment

• The main difference is the point at which the risk transfers from the seller to the buyer.

• The language spoken by the parties involved

• The color of the packaging used

Which Incoterm is commonly used for containerized shipments?

• CPT

• FCA

• DDP

• EXW

What does DAT stand for in Incoterms 2020?

• Delivered at Sea

• Delivered at Terminal

• Direct Air Transport

• Duty and Taxes

Why are Incoterms important in international trade?

• Incoterms are important in international trade to define responsibilities, transfer of risk, and allocation of costs between buyers and sellers.

• Incoterms are used to determine the weather conditions for shipping goods internationally.

• Incoterms are designed to regulate the quality standards of products in international trade.

• Incoterms are only relevant for domestic trade, not international trade.