INCOTERMS 2020 Quiz

The buyer instructed the seller to deliver the goods to his warehouse in the country of destination, ready for unloading from the means of transport. In addition, the buyer wants the seller to clear the goods for export and import.

• EXW

• DAP

• DPU

• DDP

The seller's liability for the risk of loss or damage to the goods passes to the buyer at the port of shipment when the goods are on board the vessel contracted and paid for by the buyer. The shipment's main transportation was covered by an insurance premium secured by the buyer.

• FAS

• FOB

• CFR

• CIF

The seller entered into a sales contract with the buyer and the latter proposed that the shipment be delivered to his premises, already unloaded from the means of transport. Furthermore, he wants the seller to clear the goods for export and pay the necessary expenses for the safe delivery and handling of the said shipment to the named place.

• EXW

• FCA

• DAP

• DPU

The seller delivered the goods on board the vessel and cleared them for export. The seller also undertakes to handle and pay for the main carriage charges and marine insurance premiums for the transportation of the goods from the port of origin to the port of destination.

• FAS

• FOB

• CFR

• CIF

The seller successfully delivered the 2x40' vans to the premises of the buyer, as instructed by the latter. The seller's invoice indicated the following charges: the cost of the goods, ocean freight charges, origin other charges, on-carriage, and destination terminal handling charges.

• FCA

• DAP

• DDP

• DPU

A shipment of 500 units of electronic components was loaded by the seller onto the vessel at the Port of Hamburg. The shipment is scheduled to be unloaded at the Port of Jakarta, where the buyer will be responsible for customs clearance and additional charges. The seller covered the cost of the main freight, export duties, internal insurance, port handling charges, and inland transportation in the country of origin. Additionally, the seller arranged for insurance to cover any potential loss or damage to the goods during the main shipping transit.

• FOB, HAMBURG

• CFR, JAKARTA

• CFR, HAMBURG

• CIF, JAKARTA

• CIF, HAMBURG

What INCOTERM is appropriate if an importer in the Philippines requires the seller in China to load the surgical instruments onto the intended vessel at the Port of Qingdao. The buyer also wants the seller to pay the ocean freight charges in advance, before the goods are in transit to the Port of Davao. For customs purposes, the importer will obtain a marine insurance premium from a domestic company.

• CFR, Davao

• FOB, Davao

• CIF Davao

• FOB, Quingdao

• CFR, Quingdao

The exporter in Cebu, Philippines, agreed to deliver the goods to the warehouse of the importer in Seoul, South Korea. The importer will be responsible for marine insurance, unloading costs upon arrival at their premises, and handling customs formalities in South Korea. Meanwhile, the exporter will arrange for the main carriage, cover all other incidental expenses in the country of origin, and the country of destination.

• CPT, SEOUL

• DAP, SEOUL

• DPU, SEOUL

• DDP, SEOUL

• FCA, SEOUL

A seller in Taiwan delivered 50 barrels of refined petroleum on a barge at the Port of Taipei. The buyer in the Philippines arranged and paid for the loading of the cargo onto his nominated vessel and made an agreement with the carrier that the ocean freight charges are to be paid upon the arrival of the goods at the Port of Subic. The buyer also opted to secure marine insurance from a local surety firm. What INCOTERM is suitable for this situation?

• FOB, TAIPEI

• FAS, TAIPEI

• FAS, SUBIC

• FOB, SUBIC

• CFR, SUBIC

Based on the initial sales agreement between the exporter in Kobe, Japan, and the importer in the Philippines, the value of the automobile, including the cost of ocean freight from the Port of Kobe to the Port of Legazpi and the handling charges, is on the seller's account. However, the buyer requires the seller to further include the import duties, taxes, customs clearance fees, and inland transportation costs to deliver the goods to his warehouse in Maslog in the invoice. What INCOTERM should the seller use to comply with the buyer's requirements?

• DDP, KOBE

• DDP, MASLOG

• DDP, LEGAZPI

• DAP, MASLOG

• DAP, LEGAZPI