What point does risk transfer from the seller to buyer

Assignment Help Operation Management

Reference no: EM132187137

1. When do we invoice if Incoterms 2010 are CIP (destination address)

Discuss: Add a comment to your answer below:

A. Once goods are handed over to the first carrier or forwarder

B. Once goods arrive destination airport / seaport

C. Once goods leave the factory at origin

2. At what point does risk transfer from the seller to the buyer if the terms of shipment are DAP (destination address)?

A. Once goods are handed over to the first carrier or forwarder

B. Once goods are delivered at the destination address

C. Once goods leave the factory at origin

3. When the Incoterm is Exworks, the buyer’s nominated freight forwarder must arrange for the loading of the goods into the truck at the factory. In practice, the seller assists in this task. True or False

A. True

B. False

4. Why would a company prefer to avoid selling (providing) DDP terms to their customers?

5. An insurance contract is legally binding only if the purchaser has an insurable interest and the interest is insurable. Without it, the carrier is not obligated to pay any loss and damage claims. True or False.

A. True

B. False

6. Which is the only Incoterm that requires the seller to pay customs duty in the destination country?

Reference no: EM132187137

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