BUSINESS
ITT Exercises - Freight Transportation.pdf

Exw sellers door fca sellers door cip destination

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EXW Seller’s Door FCA Seller’s Door CIP Destination City Ocean freight charges Provide a commercial invoice Assist in obtaining an export permit Select carrier and make a booking Local cartage at origin Delivery at destination Import customs duty 2. Give the same type of answers for the transition of RISK points. Who bears the RISK: buyer ( B ) or seller ( S )? EXW Seller’s Door FCA Freight Forwa rder’s Terminal CIP Destination City Goods damaged while on the way to export terminal Goods washed overboard Goods destroyed by fire while at the freight forwarder’s export terminal before the commencement of the main carriage Goods stolen while ready for pick up at factory 3. Out of the 11 Incoterms ® 2010, only under CIF and CIP are the parties obliged to obtain marine insurance. To whom would you, as the freight forwarder, advise to obtain marine insurance under the remaining 9 Incoterms?
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Questions Terms of Trade Page | 187 2017 Exercise 6.3 (Question) 1. ABC Exporter, in Brantford, Ontario sells products to Espana Espere in Venezuela. Terms of sale: CPT, Designated Port, Incoterms ® 2010 20 wooden pallets loaded in one 40-ft ocean container Terms of delivery: ocean freight Terms of payment: open account, net 60 days a) Who selects the freight forwarder and pays the ocean freight charges? Buyer Seller b) There are goods of U.S. origin in the consignment and a general export permit is required. However, the GEP 12 was not entered on the export declaration (CAED). Who is responsible for paying the AMPS penalty? Buyer Seller c) The shipment was delayed at the arrival port due to customs clearance problems. Storage charges were US $600.00. Who is responsible to pay? Buyer Seller d) When the container was unloaded at the consignee’s door, the contents of eight pallets were damaged. Who bears the loss? Buyer Seller e) What issues might arise from the use of this geographic location? f) Is it an appropriate place? g) What would be a “more specific” geographic location? 2. ABC Importers in Mississauga purchases unbleached wick from Heinz Jansen Technische Geflechte in Kaldenkirchen, Germany. Terms of sale: DAT, Toronto Pearson Airport, Ontario, Incoterms ® 2010 11 cartons, gross weight 108.8 kg (air freight) Terms of delivery: air freight Terms of payment: open account, 30 days a) Who selects the airline or freight forwarder? Buyer Seller b) Who is obligated to purchase cargo insurance? c) Who must clear the goods for export? Buyer Seller
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Questions Terms of Trade Page | 188 2017 d) Who pays for the terminal and handling fees of CAN $25.00 at Toronto? Buyer Seller e) The goods are lost and never arrive in Toronto. Who bears the risk? Buyer Seller f) There is an ACI air fee of EUR 20.00 applied to the shipment. Who is responsible? (Advance Commercial Information/Security Fee) Buyer Seller 3. Excellent Exporters in Edmonton, Alberta sells zinc to a mine in Chile.
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  • Fall '18
  • Jane Smith
  • freight forwarder, Commercial item transport and distribution, CIFFA, Ocean Transportation Intermediary

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