Question

6. Fill in the blanks: C.I.F./C.O.D. /F.A.S./F.O.B. Each question is worth two (2) points means that delivery is at the seller's expense to a specific location - the place of shipment or a place of destination. When the term is place of shipment, risk passes when the seller puts the goods into a carrier's possession. When the term is place of destination, risk passes when the seller tenders delivery. requires a seller at his or her own expense and risk to deliver goods alongside the ship that will transport them, at which point risk passes. __is a designation most often used in the international shipment of goods.

Answer 1

COD means that delivery is at the seller's expense to a specific location-the place of shipment or a place of destination. When the term is FOB origin place of shipment, risk passes when the seller puts the goods into a carrier's possession. When the term is FOB destination place of destination, risk passes when the seller tenders delivery. CIF requires a seller at his or her own expense and risk to deliver goods alongside the ship that will transport them, at which point risk passes. FAS is a designation most often used in the international shipment of goods.