_____ are internationally recognized commercial terms that describe the responsibilities of the buyer and seller in the arrangement of transportation.
A)Incoterms
B)Duties
C)Letters of credit
D)Values
E)Tariffs

Question

Quizplus · Accepted Answer

Incoterms are the internationally recognized commercial terms that describe the responsibilities of the buyer and seller in the arrangement of transportation. They provide a common understanding of the costs, risks, and obligations of both parties in international trade transactions. Examples of Incoterms include EXW (Ex Works), FOB (Free on Board), CIF (Cost, Insurance, and Freight), and DDP (Delivered Duty Paid).

_____ Are Internationally Recognized Commercial Terms That Describe the Responsibilities