ENTREPRENEURIAL OPERATIONS
SUPPLY CHAIN MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Delivered at Terminal
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Cost and Insurance Paid
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Carriage Paid To
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Free Carrier
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None of these
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Detailed explanation-1: -CFR Incoterm (Cost and Freight) The seller also must bear all costs related to unloading at the port of destination resulting from the the contract of carriage, unless agreed otherwise. It also has an obligation to clear the goods for export, not import. No insurance contract is required from the seller or the buyer.
Detailed explanation-2: -CFR – Cost and Freight (named port of destination) Seller must pay the costs and freight to bring the goods to the port of destination. However, risk is transferred to the buyer once the goods are loaded on the vessel. Insurance for the goods is NOT included. This term is formerly known as CNF (C&F).
Detailed explanation-3: -The Incoterm DPU is the only Incoterm in which the goods are delivered unloaded at the destination.