Incoterms quiz

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May 23, 2024

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Incoterms quiz 1. Question 1 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the exporter to deliver the goods at their cost and insured to Philadelphia Port, USA. You will accept all risks as soon as they are loaded on the ship in Port of Lagos, Nigeria. DPU DAP CIF C CPT FOB 2. Question 2 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics.

Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the goods delivered to “Roy’s Trucking” in Abuja Nigeria. You will accept risk for the goods once they are in possession of “Roy’s Trucking” and you will pay all costs and make the necessary arrangements to bring them to Oblio International Ltd., showroom in Richmond Hill ON, Canada. CIF CIP CPT FCA FCA CFR 3. Question 3 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada.

As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the goods delivered by exporter at their cost and insured to Toronto Intermodal Terminal warehouse, but you (buyer) will assume risk for them once they are given to “Roy’s Trucking in Abuja, Nigeria. FOB DPU DAP FCA CIP CIP 4. Question 4 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the exporter to deliver the goods at their cost and not insured, to the Port of Philadelphia, USA. You (buyer) will assume all risk after the goods are being loaded on the ship, SS Formosa in the port of Lagos, Nigeria. DAP CFR CIF CIF

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DAT FCA 5. Question 5 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the goods delivered loaded on the ships SS Formosa in the port of Lagos Nigeria. You will pay and take responsibility for the goods after they are being loaded on the ship in the port of Lagos Nigeria and make arrangements to bring them to Oblio International Ltd.’s showroom in Richmond Hill, ON Canada. DAP FOB FOB CFR DAT FCA 6. Question 6 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics.

Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the goods delivered loaded to Toronto Intermodal Terminal warehouse, where you will assume all costs and risks. You (buyer) will pay for unloading and subsequent delivery to Oblio International Ltd.’s showroom in Richmond Hill, ON Canada. DPU DAP DAP CIF DDP FCA 7. Question 7 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse.

o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the exporter to deliver the goods at their cost, to Toronto Intermodal Terminal warehouse. You will arrange for insurance, and risk will be transferred when the goods are delivered to “Roy’s Trucking” at Uche’s Factory. FCA CIP DPU DDP CPT CPT, Toronto Intermodal Terminal 8. Question 8 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. c Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the goods delivered beside the ship in the port of Lagos Nigeria, from where you will accept all risk for the goods and pay for all

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transportation costs from the port of Lagos Nigeria to your, Oblio International Ltd.’s warehouse, in Richmond Hill, ON Canada. FOB FOB FAS DAP DDP DPU 9. Question 9 I. INCOTERMS 2020 You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) will accept risk for the goods unloaded at CP Railway terminal in Philadelphia USA, from where you will arrange and pay for their delivery to Oblio International Ltd.’s showroom in Richmond Hill, ON Canada. DAT DAT FOB CFR DPU CIF 10. Question 10 I. INCOTERMS 2020

You have been recently employed as a junior Import Manager, by Oblio International Ltd., at their showroom situated in Richmond Hill, ON Canada. Your main duty is to start to import furniture from a new and trendy manufacturer, Uche’s Furniture Factory, situated in Abuja, Nigeria. You are in charge for the negotiations with your supplier and the logistics. Shipping Instructions: o The goods are to be shipped in a 20” container from “Uche’s Furniture Factory”. by “Roy’s Trucking Company” to the Port of Lagos Nigeria, where they will be loaded on the ship “SS Formosa”, for ocean voyage to the Port of Philadelphia U.S.A. o From the Port of Philadelphia U.S.A., the goods will be transported by “Canadian Pacific Railway”, crossing the US-Canada Border, to Toronto Intermodal Terminal, warehouse. o From Toronto Intermodal Terminal warehouse, the goods will be brought by “DHL Trucking” to Oblio International Ltd.’s new showroom in Richmond Hill ON, Canada. As you know by now, there are 11 options (11 Incoterms) which establish the duties (responsibilities) costs and risk between the buyer and seller, in each export/import transaction. A. Based on the below scenarios you must identify the most suitable Incoterm described in each scenario. B. Please record beside the chosen incoterm the place where the good are switched from the seller to the buyer You (buyer) want the goods delivered at exporter cost to Oblio International Ltd.’s showroom in Richmond Hill, ON Canada., where you (buyer) will assume risk for them. The exporter will be responsible for custom clearance in Canada and pay for duties and taxes. ExW DDP DDP FCA DAP DPU

Incoterms quiz

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