Question: Individual: - Please explain the following in two figures: (i) Terms of Sale: Freight Control & Payment Terms, and (i Terms of Sale: Incoterms. Please

Individual: - Please explain the following in two

Individual: - Please explain the following in two figures: (i) Terms of Sale: Freight Control & Payment Terms, and (i Terms of Sale: Incoterms. Please write one or two lines explaining each of the Freight Control & Payment Terms an Incoterms in the picture below. Terms of Sale: Freight Control & Payment Terms FOB TERM AND FREIGHT PAYMENT RESPONSIBILITY WHO OWNS GOODS IN TRANSIT? WHO HANDLES WHO SELECTS FREIGHT AND PAYS CLAIMS? CARRIER? WHO ULTIMATELY BEARS FREIGHT COSTS? BEST USED HAS GREATER INFLUENCE WITH CARRIER FOB Origin, Freight Collect Buyer Buyer Buyer Buyer Buyer FOB Origin, Freight Prepaid Buyer Buyer Seller Seller Seller FOB Origin, Freight Prepaid & Charged Back Buyer Buyer Seller Seller Buyer The seller adds freight costs to goods invoice. FOB Destination, Freight Prepaid Seller Seller Seller Seller Seller FOB Destination, Freight Collect Seller Seller Buyer Buyer Buyer FOB Destination, Freight Collect & Allowed Seller Seller Buyer Buyer Seller The buyer deducts freight cost from goods payment. Terms of Sale: Incoterms. COSTS RISK All modes of transport INSURANCE Sea and inland waterways DESCRIPTION EXW MO FCA CPT CIP DAT DAP DDP FAS Free Alongside the FOB CFR CIF

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