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What is the difference between CPT and CFR incoterms?
As per CPT incoterm, the destination terminal charges will be paid by the seller. In CFR, seller will be responsible for till payment of carriage charges, the rest buyer is responsible
What is the difference between incoterms ddp and dap?
DAT - Delivered at Terminal (named terminal at port or place of destination)Seller pays for carriage to the terminal, except for costs related to import clearance, and assumes all risks up to the point that the goods are unloaded at the terminal.DAP - Delivered at Place (named place of destination)Seller pays for carriage to the named place, except for costs related to import clearance, and assumes all risks prior to the point that the goods are ready for unloading by the buyer.DDP - Delivered Duty Paid (named place of destination)Seller is responsible for delivering the goods to the named place in the country of the buyer, and pays all costs in bringing the goods to the destination including import duties and taxes. This term places the maximum obligations on the seller and minimum obligations on the buyer.
What does the perfect price discrimination graph illustrate about pricing strategies in economics?
The perfect price discrimination graph illustrates a pricing strategy where a seller charges each customer the maximum price they are willing to pay. This strategy allows the seller to capture the entire consumer surplus and maximize profits.
Is it true Monopolistic markets and their high prices and profits violate capitalist justice because the seller charges more than the goods are worth so the prices the buyer must pay are unjust?
True
What is a buyer and seller of goods called?
Buyer is a consumer Seller is a Distributor
When goods are shipped FOB destination and the seller pays the transportation charges what journal entry does the buyer make?
Journal entry in the books of the buyer: [Debit] Goods Purchased xxxx [Credit] Cash/bank xxxx As buyer has not paid the freight charges, he will only record the transaction with original goods purchased amount.
Which term indicates that merchandise is free of transportation charges to the buyer?
"Free on Board (FOB) destination" indicates that merchandise is free of transportation charges to the buyer. This means that the seller is responsible for the shipping costs and risk of loss until the goods reach the buyer's specified location.
What term is used when a shipment is owned by the seller up to the point of destination and the seller pays the transportation costs?
FOB
What is the difference between CPT and CFR incoterms?
As per CPT incoterm, the destination terminal charges will be paid by the seller. In CFR, seller will be responsible for till payment of carriage charges, the rest buyer is responsible
If the seller is to pay the transportation cost of delivering merchandise the delivery terms are stated as?
Freight on Destination (FOD)
What is CPT in shipping terms?
The Business Dictionary defines CPT, or Carriage Paid To, as a term of sale. The seller provides the CPT, which includes all shipping charges necessary for delivery of the item shipped to the destination named on the CPT. Insurance costs are not included in a CPT.
If goods in transit are shipped FOB destination?
Seller retains legal title until the goods have reached the destination (wherein the risks and rewards and officially transferred to the buyer and thus becomes the buyer's inventory).
What is the definition of FOB shipping point and FOB destination point?
FOB Destination means that the seller owns the goods until the buyer receives them. Therefore, the seller pays the shipping costs. FOB Shipping means that the buyer owns the goods once they are shipped. Therefore, the buyer pays the shipping costs.
What is the difference between CIF and CNF?
CNF is when the seller pays for all freight charges to destination port, after that the buy pays all costs for clearance customs duties and transportCIF is when the seller pays for all freight charges to the destination port, after that the buy pays all costs for clearance customs duties and transport, but it contain compulsory sea insurance.
What is the difference between FOB destination and FOB shipping point?
FOB (Freight On Board) Destination and FOB Shipping specifies whether the buyer or seller owns the goods, and therefore, who pays for the shipping and includes the items in their inventory. FOB Destination means that the seller owns the goods until the buyer receives them. Therefore, the seller pays the shipping costs. FOB Shipping means that the buyer owns the goods once they are shipped. Therefore, the buyer pays the shipping costs.
What is FCA destination?
FCA Destination, or Free Carrier at Destination, is an Incoterm that indicates the seller's responsibility for delivering goods to a specified destination, where they are made available to the buyer. The seller covers all costs and risks up to that point, including transportation and export customs clearance. Once the goods reach the destination, the buyer assumes responsibility for import customs clearance and further transport. This term is beneficial for both parties as it clearly outlines their respective obligations.
What is FOB or CIF diamond parcel?
FOB stands for Free on Board. It means that the buyer determines how the item is shipped and the seller must oblige and get it there. CIF stands for Cost, Insurance and Freight. This means the seller must arrange for transportation and provide papers to the buyer.
