Incoterms Quiz

Reduces paperwork for exporters and importers

Ensures compliance with local tax regulations

Sets out the responsibilities and aids in avoiding errors that could harm both parties in terms of monetary value (correct)

Guarantees a fixed exchange rate for international transactions

To restrict the number of companies involved in international business

To simplify customs procedures for perishable goods

To provide tax exemptions for international transactions

To ensure consistent communication in international trade (correct)

The liability of third-party logistics providers

The accountability of both the exporter and the importer (correct)

The exclusivity of trade agreements

The government subsidies for international shipments