What is a major benefit to using Incoterms when sourcing goods internationally?
A.
it ensures value for money
B.
it ensures ethical business practices
C.
it replaces lengthy contractual clauses
D.
it replaces the need for insurance
The Answer Is:
C
This question includes an explanation.
Explanation:
Explanation
Incoterms can replace lengthy contract clauses as they replace the need for contracts to detail which party is responsible for organising transport, paying duties, having the insurance etc.
Incoterms is an odd one for exam topics- some students say it was a huge part of their exam and there were many questions on this. Others said there were just one or two. Questions get randomly assigned from the bank so it's completely random how many you'll get on this topic.
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