Global LogisticsApply concepts learned in this module (CIFFA etextbook, CIFFA elearning, Lesson: Module 5) around Terms of Trade / Incoterms® 2020. Work out the assignment prior to beginning the quiz. Submit your completed assignment before the end of Module 6.
You are asked to manage the following two shipments of intermodal cargo going by TEU (sea) or ULD (air).
SHIPMENT A SHIPMENT B
Origin:
Shipper’s Plant Budd’s BMW Canada,
Oakville, ON, CA VW, Taubaté, Brazil
Terminal & customs Schenker Whse,
Montreal, Quebec Sao Paulo International Airport
Port – seller’s side Port of Halifax, NS Port of Santos, Brazil
Port – buyer’s side Port of Antwerp, Belgium Port of Miami, Florida
Terminal & customs Schenker Whse,
Munich, Germany YYZ, Toronto
Destination:
Buyer’s Warehouse BMW,
Munich, Germany VW, 550 Adelaide St E., Toronto, Canada,
Use Shipments A and B (above) to completely label the diagram with locations of delivery and shade the seller’s obligations for the following containerized shipments:
- (1 mark) Shipment B – Incoterm® is EXW
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Cost Transportation
Insurance Risk of ownership
pre-carriage main carriage on-carriage - (1 mark) What is the complete Incoterm®?
- (1 mark) Shipment A – Incoterm® is CPT
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Cost Transportation
Insurance Risk of ownership
pre-carriage main carriage on-carriage - (1 mark) What is the complete Incoterm®?
- (1 mark) Shipment B – Incoterm® is CIF port
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Cost Transportation
Insurance Risk of ownership
pre-carriage main carriage on-carriage - (1 mark) What is the complete Incoterm®?
- (1 mark) Shipment A – Incoterm® is DPU port
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Cost Transportation
Insurance Risk of ownership
pre-carriage main carriage on-carriage - (1 mark) What is the complete Incoterm®?
- (1 mark) DAP is best for a contract in which the buyer is a large international company?
a. true
b. false - (1 mark) Why? Or Why not? Justify your choice for question 9.
- (1 mark) What potential problem is there with EXW that makes FCA a better selection in most cases?
- (1 mark) Using FOB “named port” in your Sales Contract shows interested parties that (select all that apply):
a. The freight costs must be prepaid up to the port of arrival
b. The seller must arrange and pay for marine insurance
c. It is a marine bulk shipment
d. The seller must arrange and pay for any documentation or export declaration formalities in the country of origin
e. The seller must arrange and pay for main-carriage