Explanation should include
- definitions of Incoterms
- role of the International Chamber of Commerce (ICC)
- responsibilities of sellers and buyers for the delivery of goods.
Process/Skill Questions:
- What is the importance of incoterms?
- What are the responsibilities of the International Chamber of Commerce (ICC)?
- Why is it important for the buyer and seller to understand each other’s responsibilities during the shipping process?
- When determining price, why is it important for the seller to calculate total cost of delivery in order to insure a fair selling price?
- What are some current trends in shipping practices in regard to global transportation?