Session 4 recap

According to the EXW Incoterm when does the risk transfer occur?

• On track with the first carrier

• At the seller's facilities

• On arrival at the port of destination

• Is the following information an example of an installment contract?

• Buyer: TechCorp Solutions

• Seller: OfficeEquip Ltd.

• Goods: 100 office laptops

• Total Price: $100,000

• Payment Terms: $100,000 payable in full within 30 days after signing the contract.

• Delivery Terms: All laptops will be delivered within 7 days after the contract is signed

• Yes

• No

Do damages for breach of contract, include loss of profit?

• Yes

• No

Which of the following scenarios is not considered an exception to the seller's breach of obligations?

• Delays in shipments due to lack of personnel.

• Cargo ship sinks

• Border closures

• None

Who must preserve the goods during the performance of obligations under the contract?

• Buyer

• Seller

• Both