In an international trade, Green Trade Co. is selling 40,000 mts of grain to Mersin Dış Ticaret A.Ş.. In the sale contract an Incoterms from 2020 series is agreed. According to the Incoterm, Green Trade Co. is responsible from production costs, pre-carriage to loading port, customs clearance, loading of the ship, insurance and freight. Mersin Dış Ticaret A.Ş is responsible from unloading costs occurred at the destination port, customs clearance, duties and on-carriage. In accordance with sales agreement, the party who is responsible from carriage of cargo charters a vessel. According to the charter contract, cargo will be loaded at Port of Portland, USA and will be discharged at Port of Mersin. Upon loading, a negotiable document is prepared and delivered to the relevant party. On the way to discharging port, some of the cargo in one hold is damaged. When the vessel arrives to the discharging port, Mersin Dış Ticaret A.Ş. goes to the agent of the ship to deliver the cargo. Determine exporter and importerState which incoterm is agreed in the sale contract. Write the incoterm in appropriate way.Which document is prepared at loading port and delivered to whom?Which party deals with the damaged cargo and how the damage is compensated?At discharging port, which document must be delivered to the ship agent acting on behalf of his principle? And which document agent gives against this documents?

1. An exporter is the person who exports the product from home land to foreign land.In this case,the…

Answered: charters a vessel. According to the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

In an international trade, Green Trade Co. is selling 40,000 mts of grain to Mersin Dış Ticaret A.Ş.. In the sale contract an Incoterms from 2020 series is agreed. According to the Incoterm, Green Trade Co. is responsible from production costs, pre-carriage to loading port, customs clearance, loading of the ship, insurance and freight. Mersin Dış Ticaret A.Ş is responsible from unloading costs occurred at the destination port, customs clearance, duties and on-carriage. In accordance with sales agreement, the party who is responsible from carriage of cargo charters a vessel. According to the charter contract, cargo will be loaded at Port of Portland, USA and will be discharged at Port of Mersin. Upon loading, a negotiable document is prepared and delivered to the relevant party. On the way to discharging port, some of the cargo in one hold is damaged. When the vessel arrives to the discharging port, Mersin Dış Ticaret A.Ş. goes to the agent of the ship to deliver the cargo.

Determine exporter and importer
State which incoterm is agreed in the sale contract. Write the incoterm in appropriate way.
Which document is prepared at loading port and delivered to whom?
Which party deals with the damaged cargo and how the damage is compensated?
At discharging port, which document must be delivered to the ship agent acting on behalf of his principle? And which document agent gives against this documents?

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions