Incoterms

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EXAM
TEAM ·1
I. Each question has a value of 4 points
1.What does mean INCOTERM? What is it?
Are the International Comercialization Terms, Are rules about the conditions of supply of goods.
2.What does EXW mean? and why would it serve?
Delivered Ex- Ship , It means that the seller delivers when the goods available to the buyer at the seller's premises or another named place (ie, factory,warehouse, etc
3.What does FCA mean? and why would it serve?
Free Carrier , It means that the seller delivers the product for Exportation to the carrier nominated by the buyer at the named place.
4.What does FAS mean? and why would it serve?
Free Along Ship, It means that the seller's responsibility ends once the goods are placed alongside the vessel at the port of shipment. This means thatthe buyer has to bear all costs and risks of loss or damage of goods from that moment.
5. What does FOB mean? and why would it serve?
Free On Board , The seller's responsibility ends when the goods exceed the ship's rail at the port of shipment
6. What does CFR mean? and why would it serve?
Cost and freight, For the seller the scope are the same as the price FOB the only difference being thatthe company should be responsible for hiring the ship's hold and pay the freight to destination. The risk of loss or damage to the goods and any additional costs due to events occurring after the time of delivery, are transferred from seller to buyer
7. What does CIF mean? and why would it serve?
Cost, Insurance and Freight , Means that the seller delivers the goods when it exceeds the ship'srail at the port of shipment. The seller must pay the costs and freight necessary to bring the goods to the port of destination.
8. What does CPT mean? and why would it serve?
Carriage Paid to, means that the seller delivers the goods to the buyer, cleared for import and not unloaded from the means of transport used in the place of destination.
9. What does CIP mean? and why would it serve?Carriage and Insurance Paid to, The seller delivers the goods to the carrier nominated by him but also must pay the cost of carriage necessary to bring the goods to destination. The buyer assumes all risks and any other costs occurring after the goods have been so delivered.

10. What does DAF mean? and why would it serve?
Delivered at frontier , The seller bears the costs to the delivery of thegoods at the agreed place. As a seller and buyer share the main transport costs tend to hire through carriers or freight forwarders.
The DAF incoterm goods used in carrying out long distances and pass through platforms and logistics points of consolidation, where costs are transmitted and delivered the goods.
11. What does DES mean? and why would it serve?
Delivered Ex –Ship, The seller isresponsible for all costs, including the main and the insurance (not required), until the goods are delivered at the port of destination (ship docked at the pier and goods in the hold of the ship). The risks also assumed so far.

12. What does DEQ mean? and why would it serve?
Delivered ExQuay , It means that the seller delivers when the goods are made available to the buyer on board the ship notcleared for import at the named port of destination

13. How referred Issued Bank?
As regards the bank to make payment for the goods.
14. How referred Correspondent Bank?
As regards the receiving bank of payment for goods.
15. What does the special customs regime of temporary admission?
Allowed in the country for a specified period and suspension of the application of taxes, of goodsfor personal use or porfesional.
16. How is the domestic credit letter?
It is the letter of credit opened for a beneficiary who is resident locally and generally does not require the intervention of another financial institution
17. What is it for the chamber of commerce?
They protect their interests, improve their business based on mutual cooperation and promote its prosperity, as well as...
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