6 Questions
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?
A9/B9
Which article in Incoterms® 2020 divides the obligations of sellers and buyers into ten articles?
A2/B2
Which party is responsible for paying in conformity with the sales contract according to Incoterms® 2020?
Buyer
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?
DDP, Madrid, Spain, Incoterms® 2020
Which party is responsible for paying in conformity with the sales contract according to Incoterms® 2020?
Importer
Which article in Incoterms® 2020 specifies the obligations of sellers and buyers?
Article 5
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.
Test your knowledge of Incoterms® 2020 with this quiz! Determine under which article the seller is obligated to provide goods and commercial documents, and the buyer is obligated to pay in accordance with the sales contract. Choose the correct option from A9/B9, A6/B6, A2/B2, or A1/B1.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
