What kind of cargo is used for FAS? Why? In containers, because it is carried on board a ship. Which are the two possible cases of delivery for FCA?: when the goods have been loaded on the transport designated by the buyer or by a person acting on its behalf. When the goods are made available to the seller’s carrier transport, without being discharged.
Allocation of costs and risk for FAS and FOB: the seller is required to deliver the goods alongside the actual ship on the pier. From that point forward, the buyer bears all cost(loading cost, freight, insurance) and risk. Under FAS terms, the buyer is required to clear the goods for export and pay the cost of loading the goods.
Why is so important for the seller to have the bill of lading? Which is the incoterm that allows this? The bill of lading from carrier to the shipper can be used as an evidence of the contract of carriage by the fact that carrier has received the goods and upon the receipt the carrier would deliver the goods. In the case, the bill of lading is used as a contract of carriage between seller and carrier.
Explain the rules from naming Incoterms: it is letter 2, place 3 icc 2010
What are the incoterms CIP and CPT created For? CIP the seller delivers the goods to the carrier. He Pays the transport cost and takes care of the transport insurance. CPT: the seller delivers the goods to the Carrier's warehouse and pays the costs of transporting the goods to the Destination, but does not assume the transport risks.
Which is the transport´s document that we Use for: all of them FBL forwarder bill of lading
Train: Railway Bill of Lading, Plane: Air Waybill, Lorry: CMR ,
Who gets those documents with CPT? The Buyer get and accept the transport Documents, if it complies with the contract.
In CPT who pays for the main transport? The Seller will pay all transportation to bring the goods to the point of Destination agreed.
Differences between delivery point and Destiny´s point? the delivery point is the point where the Goods are delivered to the freight forwarder and international transport Begins. On the other hand, at the destination point, is when the goods have Arrived at their destination and will be picked up by the buyer.
When does the seller pass the risk to the Buyer? What does it mean? The risk is transferred for the seller gives the carrier the cargo and The cargo documents at the port of export.
We say that the seller gets an insurance for the buyer To avoid financial risk, why? Explain it. Which are the three clauses for a Marine Insurance? Cluse C: Cover los sor damage due to Fire and Explosion, Stranding (encallar), Sinking, Capsizing, overturning of a lorry or Train, collision, total loss of vehicle, general average sacrifice (destrozos Generales) and jetisson (echar por la borda)
Clause B: The same as Clause C plus: Washing, Overboard, sea, lake, River, Water damage and total loss of package during Loading/unloading
Clause A: The same as clause B plus: Rainwater damage, Malicious damage (daño intencionado), breakage (rotura), partial loss, Shortage, pilerage and theft (robo). Which is the insurance the incoterm CIP Obliges the seller to get? Sometimes the seller pays for an insurance and the Buyer gets another insurance for the same goods, can you explain the reason?Allocation of costs for seller and buyer In CIP: seller: all cost relating to the goods until the Moment they have been delivered at the agreed point of destination . Transport And the cost of loading the goods at destintion, if so isrequired by contract. Insurance Cost, the cost of unloading at the destination and the cost of customs Clearance for export. the buyer Must pay all cost relating to the goods from the time of delivered by the Seller.Buyer pay the unloading chargesand all duties, taxes and another charges As well as cost to the import clearance. How do we calculate the insurance charge In CIP? CIP: Obligation. We will have 3 clauses (C,B,A). Insurance requirement is mínimum cover (Clause C). Buyer may pay for additional Coverage (Clause B or A). I = 1 – ( i X S) I = 1 – ( i x 1,1)
Who pays for the customs inspections for a CIP or CPT? The seller pays for loading the goods, The Buyer pays for unloading the goods