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What are INCOTERMS?
What are INCOTERMS?
- A set of international rules for interpretation of the chief terms used in foreign trade transactions (correct)
- A set of international standards for quality control in manufacturing
- A set of international regulations for shipping goods across borders
- A set of international guidelines for hiring foreign employees
What is the main difference between FAS and FOB?
What is the main difference between FAS and FOB?
- FAS is one of the most common export terms, while FOB is less commonly used
- FAS stands for "Free on Board", while FOB stands for "Free Alongside Ship"
- The exporter pays all expenses up to dispatch of goods for FOB, while the buyer bears the risk and expenses from that point onwards
- The exporter pays all expenses up to the dispatch of goods alongside the ship for FAS, while the buyer bears the risk and expenses from that point onwards (correct)
When were INCOTERMS first published?
When were INCOTERMS first published?
- 1946
- 1956
- 1966
- 1936 (correct)
Which term means that the exporter's obligation is fulfilled when goods are loaded on Rail?
Which term means that the exporter's obligation is fulfilled when goods are loaded on Rail?
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Is the adoption of INCOTERMS mandatory?
Is the adoption of INCOTERMS mandatory?
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Which statement about Ex Works Price is correct?
Which statement about Ex Works Price is correct?
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