24 Questions
What year did the International Chamber of Commerce first conceive the idea of INCOTERMS?
1921
Which subcommittee under the International Chamber of Commerce was responsible for coming up with the initial six INCOTERMS?
Trade Term Committee
What was a significant change introduced in INCOTERMS with the addition of the FCA rule?
Delivery from seller to buyer on land
How many INCOTERMS are there as per the INCOTERMS 2020?
11
Which two INCOTERMS are highlighted as the most popular among shippers and well understood by various authorities?
FAS and FOB
What does the presence of an INCOTERM determine in terms of marine cargo insurance?
Who takes cargo insurance and up to which point
Which convention was intended to replace the Warsaw convention rather than amend it?
Montreal protocol 4
What is the significance of the Montreal convention with regards to the Warsaw convention?
It replaced the Warsaw convention
How many parties to the Warsaw convention have ratified The Hague protocol?
137
In which city was the Warsaw convention originally signed in 1929?
Warsaw
Which treaty is amending the Warsaw convention according to the text?
The Hague protocol
When was The Hague protocol signed?
1955
Under the Hague-Visby rules, when do the rules apply to a bill of lading related to carriage of goods between two different ports?
If the carriage is from a port in non-contracting states
What was the purpose behind the establishment of the Hamburg rules by the U.N?
To create a more balanced and modern set of rules
In terms of liability, how do the Hague-Visby rules define cargo ships' obligations?
By limiting their liability under specific conditions
Which set of rules is more radical and extensive compared to the Hague-Visby rules but has not yet been fully ratified?
The Rotterdam rules
What was one significant amendment made to the Hague rules to transform them into the Hague-Visby rules?
Incorporation of the Brussels protocol 1968
Which document must indicate that either the Hague-Visby rules or equivalent legislation governs a contract for the rules to apply?
Bill of lading or similar title document
What type of carrier is liable for loss resulting from loss of or damage to the goods, as well as from delay in delivery, under the Hamburg Rules?
Common carrier
Which international organization was responsible for drafting the Hague and Hague-Visby rules?
Commite' Martime International (CMI)
In the context of carriers' obligations, what major change did India introduce to the Hague-Visby rules in 1993?
Increased limits of liability
Under the Indian COGSA, which set of rules is specifically incorporated into its schedule?
Hague-Visby Rules
What is the primary obligation of a carrier concerning cargo under the rules mentioned in the text?
Maintain the seaworthiness of the vessel
What is a common characteristic of carriers under various international maritime rules?
Liability for loss or damage to goods
Explore the history and evolution of INCOTERMS, from its inception by the International Chamber of Commerce in 1921 to the development of key trade terms like FOB, FAS, CIF, and more. Learn about the changes and modifications that have occurred over time to adapt to the dynamic nature of international trade.
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