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Questions and Answers
Under which of the following articles is the seller obligated to provide the goods and the commercial documents and the buyer to pay in conformity with the sales contract?
Under which of the following articles is the seller obligated to provide the goods and the commercial documents and the buyer to pay in conformity with the sales contract?
- A1/B1
- A9/B9 (correct)
- A2/B2
- A6/B6
Which article in Incoterms® 2020 divides the obligations of sellers and buyers into ten articles?
Which article in Incoterms® 2020 divides the obligations of sellers and buyers into ten articles?
- A1/B1
- A2/B2 (correct)
- A9/B9
- A6/B6
Which party is responsible for paying in conformity with the sales contract according to Incoterms® 2020?
Which party is responsible for paying in conformity with the sales contract according to Incoterms® 2020?
- Both seller and buyer
- Seller
- Freight forwarder
- Buyer (correct)
Which Incoterm® should the exporter choose in order to maintain their good reputation and ensure that the customer is 'made whole' if any part of the shipment is lost or damaged?
Which Incoterm® should the exporter choose in order to maintain their good reputation and ensure that the customer is 'made whole' if any part of the shipment is lost or damaged?
Which party is responsible for paying in conformity with the sales contract according to Incoterms® 2020?
Which party is responsible for paying in conformity with the sales contract according to Incoterms® 2020?
Which article in Incoterms® 2020 specifies the obligations of sellers and buyers?
Which article in Incoterms® 2020 specifies the obligations of sellers and buyers?
Flashcards
Incoterms® 2020 Article 5
Incoterms® 2020 Article 5
Specifies the obligations of sellers and buyers in a sales contract.
Seller's responsibility (Incoterms® 2020)
Seller's responsibility (Incoterms® 2020)
The seller is obligated to supply goods and documents.
Buyer's responsibility (Incoterms® 2020)
Buyer's responsibility (Incoterms® 2020)
The buyer is obligated to pay.
Incoterms® 2020 Article 2/Part B2
Incoterms® 2020 Article 2/Part B2
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Best Incoterm for damage/loss prevention
Best Incoterm for damage/loss prevention
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Who pays the invoice (Incoterms® 2020)?
Who pays the invoice (Incoterms® 2020)?
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Study Notes
Incoterms 2020
- The seller is obligated to provide goods and commercial documents, and the buyer is obligated to pay in conformity with the sales contract under Article 4 of Incoterms 2020.
Seller and Buyer Obligations
- Incoterms 2020 divides the obligations of sellers and buyers into ten articles.
Payment Obligations
- The buyer is responsible for paying in conformity with the sales contract according to Incoterms 2020.
Choosing Incoterms
- To maintain a good reputation and ensure the customer is 'made whole' if any part of the shipment is lost or damaged, the exporter should choose Delivered at Place (DAP) Incoterms.
Responsibilities
- According to Incoterms 2020, the buyer is responsible for paying in conformity with the sales contract.
Incoterms Articles
- Article 4 of Incoterms 2020 specifies the obligations of sellers and buyers.
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