18 Questions
What are the two categories of seller and buyer obligations in the Incoterms® 2020 rules?
A/B
Which category of obligations involves the responsibilities of delivery/taking delivery under the Incoterms® 2020 rules?
A2/B2
What do the 'A3/B3' obligations cover in the Incoterms® 2020 rules?
Transfer of risks
Which step involves allocation of costs according to the Incoterms® 2020 rules?
A9/B9
Under the Incoterms® 2020 rules, which category involves checking/packaging/marking responsibilities?
A8/B8
What do the 'Delivering/transport document' obligations refer to in the Incoterms® 2020 rules?
A6/B6
What do Incoterms® rules address in sales contracts?
Obligations, costs, and risks
Why were the Incoterms® 2020 introduced?
To standardize international trade terms
What does the ICC's Incoterms® system represent?
Different methods of transportation and assumption of risk and cost
What is one of the main purposes of using Incoterms® rules in negotiations?
To specify the responsibilities of the seller and buyer
Which factor was NOT mentioned as a potential source of confusion in international trade negotiations?
Technology
What aspect of sales contracts do Incoterms® rules NOT address?
Company profits
Which of the following are users of Incoterms® 2020?
Importers
Under which class of Incoterms® 2020 rules does 'EXW' (ex works) belong?
Rules for any mode or modes of transport
What does 'DDP' stand for in Incoterms® 2020?
Delivered Duty Paid
Which of the following is a responsibility typically covered by Incoterms® 2020?
Security fees
In Incoterms® 2020, which rule involves 'Free on Board'?
FOB
'DPU' in Incoterms® 2020 replaced which term?
'DAT'
Learn about the rules for any mode of transportation, including the Incoterms® system which governs the transfer of risk in international trade. Explore figures and charts illustrating responsibilities and visual shorthand of Incoterms® 2020.
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