Mastering Incoterms® 2020

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Questions and Answers

Under what circumstances can Incoterms® be brought up in the court of law?

Only when they are used in trade of tangible goods
When the claimant has read and understood them
When they are part of an international convention
When they are incorporated into the contract of sale (correct)

In which situation can Incoterms® be used in a legal dispute?

When they are part of an international convention
When the claimant has read and understood them
Only when they are used in trade of tangible goods
When they are incorporated into the contract of sale (correct)

When can Incoterms® be invoked in a court of law?

When they are part of an international convention
When the claimant has read and understood them
When they are incorporated into the contract of sale (correct)
Only when they are used in trade of tangible goods

Flashcards

Incoterms® in legal disputes

Incoterms® can be used in court if included in the sales contract.

Incoterms® and the contract

Incoterms® are legally relevant only when part of the sales contract.

Legal use of Incoterms®

Incoterms® can be used in legal cases if they are in the sales agreement.

Study Notes

Incoterms® in Legal Disputes

Incoterms® can be brought up in a court of law when there is a dispute between the buyer and the seller regarding the interpretation of the terms of trade.
Incoterms® can be used in a legal dispute to clarify the responsibilities of the buyer and the seller, particularly in regards to delivery, risk, and cost.
Incoterms® can be invoked in a court of law when there is a need to establish the intention of the parties involved in the sale, particularly in regards to the allocation of risk and responsibility.
The use of Incoterms® in a legal dispute can help to resolve issues related to the delivery of goods, such as when and where the goods were delivered, and who bears the risk of loss or damage.

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Test your knowledge of Incoterms® 2020 and identify the most appropriate term for ABC Importing in Germany when importing from Vietnam. Avoid customs procedure risks by selecting the correct Incoterm for the given circumstances.