39. Incoterms describe three issues that arise in a commercial transaction. Whic

Question

39. Incoterms describe three issues that arise in a commercial transaction. Which of the following is not one of these issues?

A. Which party covers the costs.

B. Which party's jurisdiction is used to resolve conflicts.

C. Which party bears the risk.

D. Which party does which tasks.

37. Of the 12 most common mistakes and pitfalls awaiting new exporters listed in the textbook, which one of the following is not in the list? A. Making too much of a commitment during the initial stages of exporting. B. Failing to obtain qualified export counseling. C. Chasing orders from around the world instead of establishing a basis for profitable operations and orderly growth. D. Failure to consider the use of an export management company.

Explanation / Answer

39. The right answer is option B. Which party's jurisdiction is used to resolve conflicts.

Explanation: Incoterms or International Commercial Terms refer to a series of pre-defined commercial terms used in international trade to clearly state the tasks, risks, and costs associated with the transportation and delivery of goods in international trade. The terms are published by the published by the International Chamber of Commerce (ICC). Incoterms mentions about costs, risks, and tasks but not about a place of jurisdiction.

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