Importing and Exporting - M6:Trade Documents and Transportation

What is an air waybill?

• A contract of carriage between the shipper and the steamship company.

• A negotiable document used for collection purposes.

• A contract of carriage between the shipper and the air carrier.

• A receipt issued by customs at the destination port.

Which document is issued by the consulate of the nation to which the products are being shipped?

• A. Air Waybill

• B. Bill of Lading

• C. Consular Invoice

• D. Inspection Certificate

What is the purpose of a certificate of origin?

• To act as a receipt for the shipper.

• To verify the origin of the export product for preferential duty treatment

• To provide a provisional invoice for the buyer

• To detail the terms and amount of insurance coverage

Which document itemizes the material of each package and shows the package type, weights, and measurements?

• Manifest

• Commercial Invoice

• Export Packing List

• Dock Receipt

What type of transportation is most appropriate for urgent goods that cannot be delayed?

• Ocean Freight

• Air Transportation

• Inland Water Transport

• Rail Transport

Which of the following is true about tramps in ocean freight?

• They operate on a fixed route and schedule.

• They are leased to transport bulk cargo without a fixed schedule.

• They are owned by merchants and manufacturers for exclusive use.

• They form a voluntary association of ocean carriers.

What role does a freight forwarder play in the transportation process?

• They own and manage fleets of ships.

• They negotiate letters of credit with banks.

• They advise exporters on the most cost-effective transportation methods and handle all logistics.

• They issue consular invoices and certificates of origin.

What is the primary function of a commercial invoice?

• To provide a detailed summary of a vessel's total cargo.

• To act as a bill from the seller to the customer for the merchandise.

• To transfer accountability when goods are delivered to a carrier's port.

• To certify that the goods shipped meet the specifications required.

Why might a pro forma invoice be used in international trade?

• To clear goods through customs at the destination.

• To act as a preliminary bill and quotation for the buyer

• To verify the origin of goods for duty purposes.

• To provide proof of insurance coverage.

What is a manifest used for in export-import trade?

• To verify the contents of each package.

• To provide an insurance certificate for the goods.

• To give a detailed summary of a vessel's total cargo for customs purposes.

• To act as a contract between the shipper and carrier.