Trade terms and abbreviations - SS3 Commerce Past Questions and Answers - page 1
What does FOB stand for in trade terms?
Free on Board
Free Alongside Ship
Cost, Insurance, and Freight
Which trade term requires the buyer to make full payment at the time of placing the order?
FOB
CWO
CIF
What does CIF stand for in trade terms?
Cost, Insurance, and Freight
Cash on Delivery
Cash on Delivery
What is the responsibility of the seller in EXSHIP trade term?
Delivering the goods to a designated railway station
Delivering the goods to the named port of destination
Delivering the goods to the buyer at the named port of destination
Delivering the goods to the buyer at the named port of destination
What does FAS represent in trade terms?
Free on Board
Free Alongside Ship
Cash on Delivery
What is full the meaning of COD in trade terms?
COD stands for Cash on Delivery, which means the buyer pays for the goods upon delivery.
What are the responsibilities of the seller in CIF trade terms?
In CIF trade terms, the seller is responsible for delivering the goods to the named port of destination, including the costs of transportation and insurance.