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20 wooden pallets with Maple syrup loaded in on 40-ft ocean container Terms of delivery: ocean freight Terms of payment: open account, net 60 days

20 wooden pallets with Maple syrup loaded in on 40-ft ocean container Terms of delivery: ocean freight Terms of payment: open account, net 60 days

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  1. Exquisite Exports inc. based in St-Jérôme, QC sells products to Total S.A. in Paris, France, under the following terms:

 

Terms of sale: CPT, port of Le Havre, Incoterms 2020

20 wooden pallets with Maple syrup loaded in on 40-ft ocean container

Terms of delivery: ocean freight

Terms of payment: open account, net 60 days

 

  1. The container gets unloaded at Total’s warehouse in Paris. During the unloading process, the cargo is damaged. Who bears the loss related to this damage?
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