Pipeline Transportation

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What is the primary benefit of pipelines in transportation?

Improves accessibility and increases the speed of transportation (correct)

Reduces cargo handling and improves security

Increases the speed of transportation and reduces damage

Reduces damage and loss, and improves accessibility

What is the primary function of crude oil pipelines?

To collect and transport crude oil from inland production areas (correct)

To transport high-volume gases

To reduce cargo handling and improve security

To increase the speed of transportation and reduce damage

What is the primary purpose of Incoterms in international trade?

To identify who is responsible for the shipping and insurance

To define the responsibilities of sellers and buyers for the delivery of goods (correct)

To protect the International Chamber of Commerce copyright

To minimize trade disputes and litigation

What is the primary benefit of using Incoterms in international contracts?

Minimizes trade disputes and litigation Signup and view all the answers

What is the primary responsibility of the buyer under the EXW (Ex Works) clause?

To pay for the transportation and insurance Signup and view all the answers

What is the primary difference between the FCA (Free Carrier) and EXW (Ex Works) clauses?

The buyer is responsible for the payment of transport and insurance under EXW Signup and view all the answers

What is the primary responsibility of the seller in terms of delivery of goods under the FAS incoterm?

Fulfilling delivery obligation when the goods reach the ship at a particular port terminal of loading Signup and view all the answers

Which of the following incoterms implies that the seller has the same obligations as the CFR clause and, in addition, covers the insurance of goods for loss or damage during transport?

CIF Signup and view all the answers

What is the primary factor that influences transportation costs in multimodal transportation?

Distance Signup and view all the answers

Under which incoterm does the seller take over the risk of loss or deterioration of the goods when the goods pass the ship’s rail at a particular port terminal of loading?

FOB Signup and view all the answers

What is the responsibility of the seller in terms of customs duties, both export and import at the place of destination, under the CIF incoterm?

The seller is responsible for both export and import clearance Signup and view all the answers

Which of the following incoterms is most similar to the CFR incoterm, with the only difference being the additional insurance coverage?

CIF Signup and view all the answers

In the CPT incoterm, who bears the risk of loss or damage to the goods during transportation?

The seller Signup and view all the answers

Which incoterm requires the seller to pay for insurance against loss or damage during transport?

CIP Signup and view all the answers

In the DAT incoterm, what is the seller responsible for, in addition to export clearance?

Delivery and unloading costs Signup and view all the answers

Which incoterm requires the seller to pay for customs duties and taxes in the buyer's country?

DDP Signup and view all the answers

In the DAP incoterm, who is responsible for unloading the goods at the destination?

The seller Signup and view all the answers

What is the main difference between the CPT and CIP incoterms?

The insurance coverage Signup and view all the answers