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Questions and Answers
What is the primary benefit of pipelines in transportation?
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?
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?
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?
What is the primary benefit of using Incoterms in international contracts?
What is the primary responsibility of the buyer under the EXW (Ex Works) clause?
What is the primary responsibility of the buyer under the EXW (Ex Works) clause?
What is the primary difference between the FCA (Free Carrier) and EXW (Ex Works) clauses?
What is the primary difference between the FCA (Free Carrier) and EXW (Ex Works) clauses?
What is the primary responsibility of the seller in terms of delivery of goods under the FAS incoterm?
What is the primary responsibility of the seller in terms of delivery of goods under the FAS incoterm?
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?
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?
What is the primary factor that influences transportation costs in multimodal transportation?
What is the primary factor that influences transportation costs in multimodal transportation?
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?
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?
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?
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?
Which of the following incoterms is most similar to the CFR incoterm, with the only difference being the additional insurance coverage?
Which of the following incoterms is most similar to the CFR incoterm, with the only difference being the additional insurance coverage?
In the CPT incoterm, who bears the risk of loss or damage to the goods during transportation?
In the CPT incoterm, who bears the risk of loss or damage to the goods during transportation?
Which incoterm requires the seller to pay for insurance against loss or damage during transport?
Which incoterm requires the seller to pay for insurance against loss or damage during transport?
In the DAT incoterm, what is the seller responsible for, in addition to export clearance?
In the DAT incoterm, what is the seller responsible for, in addition to export clearance?
Which incoterm requires the seller to pay for customs duties and taxes in the buyer's country?
Which incoterm requires the seller to pay for customs duties and taxes in the buyer's country?
In the DAP incoterm, who is responsible for unloading the goods at the destination?
In the DAP incoterm, who is responsible for unloading the goods at the destination?
What is the main difference between the CPT and CIP incoterms?
What is the main difference between the CPT and CIP incoterms?
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