A study on price elements in eleven terms in incoterms 2010 nghiên cứu về các yếu tố giá cả được sử dụng trong 11 điều kiện của các điều khoản thương mại quốc tế 2010

VIETNAM NATIONAL UNIVERSITY, HANOI University of Languages and International Studies FACULTY OF ENGLISH LANGUAGE TEACHER EDUCATION GRADUATION PAPER A STUDY ON PRICE ELEMENTS IN ELEVEN TERMS IN INCOTERMS 2010 Supervisor: Assoc Prof Nguyen Xuan Thom Student: Nguyen Quynh Trang Course: 2010 Hanoi, 5/2014 ĐẠI HỌC QUỐC GIA HÀ NỘI Đại học Ngoại Ngữ KHOA SƯ PHẠM TIẾNG ANH KHÓA LUẬN TỐT NGHIỆP NGHIÊN CỨU VỀ CÁC YẾU TỐ GIÁ CẢ ĐƯỢC SỬ DỤNG TRONG 11 ĐIỀU KIỆN CỦA “CÁC ĐIỀU KHOẢN THƯƠNG MẠI QUỐC TẾ 2010” Giáo viên hướng dẫn: PGS.TS Nguyễn Xuân Thơm Sinh viên: Nguyễn Quỳnh Trang Khóa: 2010 Hà Nội, 5/2014 STATEMENT OF ACCEPTANCE I hereby state that I: Nguyen Quynh Trang, class QH2010 F1 E16, being a candidate for the degree of Bachelor of Arts (TEFL) accept the requirements of the College relating to the retention and use of Bachelor’s Graduation Paper deposited in the library In terms of these conditions, I agree that the origin of my paper deposited in the library should be accessible for the purposes of study and research, in accordance with the normal conditions established by the librarian for the care, loan or reproduction of the paper Signature Nguyen Quynh Trang May th, 2014 ACKNOWLEDGEMENTS First and foremost, I would like to express my sincere thanks to respectable lecturers of Faculty of English Language Teacher Education as well as the whole teachers at University of Languages and International Studies – Vietnam National University, Hanoi for their invaluable knowledge and precious lessons during my four academic years at this university Their enthusiasm and devotion to each lecture has inspired and motivated me in the process of writing this paper Secondly, in particular, I would like to send to my supervisor, Associate Professor Nguyen Xuan Thom, my deepest gratitude With his enthusiasm and kind-heartedness, Prof Thom oriented, encouraged and supported me from the initial to the final steps of completing this graduation paper Finally, I owe my profound gratitude to my family, relatives and friends who have always kindly supported and helped me both in terms of physically and mentally throughout completion of this paper It is the first time I have carried out a study at the level of a graduation paper In spite of my great efforts, the limitations and shortcomings of the paper are unavoidable I look forward to receiving helpful comments from the lecturers to further improve my paper I sincerely thank you! Nguyen Quynh Trang i ABSTRACT The paper focused on investigating the price elements in 11 terms in Incoterms 2010 and these price terms‟ frequency of use in international transactions The paper was conducted to find out the logistic costs included in eleven price terms given by seller in international transactions Besides, the most favorable price terms used in seven main regions in the world and particularly in Vietnam were also pointed out along with giving reasons for their preference to businessmen In order to achieve these aims, both quantitative and qualitative methods were employed At the end of the paper, through data collection and analysis, the logistics costs included in each terms as well as the most dominant price terms in international transactions and Vietnam are pointed out clearly Overall, the researcher has partially succeeded in providing readers with both useful knowledge about economic terminology and practical information about international business However, there still exits some limitations which leave room for improvement of the study Finally, the researcher also offers some suggestions for further studies in the future ii TABLE OF CONTENTS TABLE OF CONTENT PAGE Acknowledgements i Abstract ii List of tables and charts vii CHAPTER 1: INTRODUCTION 1.1 Statement of the problem and the rationale for the study 1.2 Aims and objectives of the study 1.3 Significance of the study 1.4 Scope of the study 1.5 Organization of the study CHAPTER 2: LITERATURE REVIEW 2.1 Introduction of terminology 2.1.1 Definition of terminology 2.1.2 Characteristics of terminology 2.1.2.1 Precision 2.1.2.2 Emotional neutrality 2.1.2.3 Systematism 2.1.2.4 Internationalism 2.1.2.5 Popularity 2.1.3 The creation of terminology 2.2 Explanation of important terms 2.2.1 Definition of price term 2.2.2 Contract for international sale of goods 2.3 An overview of INCOTERMS iii 2.4 An overview of INCOTERMS 2010 10 2.4.1 The presentation and classification of 11 t terms 10 2.4.2 Brief explanation of 11 terms 12 2.4.2.1 EXW – Ex works 12 2.4.2.2 FCA – Free Carrier (named place) 12 2.4.2.3 FAS – Free Alongside Ship (named port of shipment) 12 2.4.2.4 FOB – Free On Board (named port of shipment) 13 2.4.2.5 CFR – Cost & Freight (named port of destination) 13 2.4.2.6 CIF – Cost, Insurance & Freight 13 (named port of destination) 2.4.2.7 CPT – Carriage Paid To (named port of destination) 14 2.4.2.8 CIP – Carriage & Insurance Paid To 14 (named place of destination) 2.4.2.9 DAT – Delivered At Terminal 14 (named terminal of destination) 2.4.2.10 DAP – Delivered At Place 14 (named place of destination) 2.4.2.11 DDP – Delivered Duty Paid 14 (named port of destination) 2.5 Fundamental principle to calculate price following 11 terms 15 CHAPTER 3: METHODOLOG Y 17 CHAPTER 4: RESULTS AND DISCUSSION 4.1 Findings of the study 19 4.1.1The component parts of price element in 11 terms in INCOTERMS 2010 iv 19 4.1.1.1 EXW price 19 4.1.1.2 FCA price 19 4.1.1.3 FAS price 20 4.1.1.4 FOB price 21 4.1.1.5 CFR price 21 4.1.1.6 CIF price 22 4.1.1.7 CPT price 23 4.1.1.8 CIP price 23 4.1.1.9 DAT price 23 4.1.1.10 DAP price 24 4.1.1.11 DDP price 25 4.1.2 The frequency of 11 price terms in practical use 25 4.1.2.1 The most commonly-used price terms in international 26 freight by region 4.12.1.1 In China/ Hong Kong 26 4.1.2.1.2 In other Asia (non-China) 27 4.1.2.1.3 In Pacific Rim 27 4.1.2.1.4 In Western Europe 28 4.1.2.1.5 In Eastern Europe 29 4.1.2.1.6 In Africa/ Middle East 30 4.1.2.1.7 In Central/ South America 31 4.1.2.2 The most commonly-used price terms in Vietnam 32 4.2.2.1 In export 33 4.2.2.2 In import 33 4.2 Discussions of the findings 36 4.2.1 Explanation for some price terms‟ high frequency of use in international freight v 36 4.2.2 Vietnam‟s advantages and disadvantages when using 38 these prices CHAPTER 5: CONCLUSION 5.1 Major findings and contribution of the research 40 5.2 Limitations of the study 41 5.3 Suggestions for further study 42 REFERNCES GLOSSARY vi LIST OF TABLES AND CHARTS TABLES PAGE Table 2.3.1.1: Presentation of the 11 terms 10 Table 2.3.1.2: Classification of Incoterms 2010 as mode of transport 11 Table 2.3.1.3: Classification of Incoterms 2010 as Olegario Llamazares 11 Table 2.5.1: The categories of costs 16 Table 4.1.2.1: The respondents‟ choices in using price terms by regions 32 Table 4.1.2.2.1 Reference to export prices of some commodities 33 at the rd week April 2012 Table 4.1.2.2.2 Reference to export prices of cashew nut 34 in some markets on June th 2011 Table 4.1.2.2.1 Reference to import prices of some commodities 35 at the rd week April 2012 CHARTS Chart 4.1.2.1.1: The percentage of respondents „choices in using 27 price terms in China/ Hong Kong Chart 4.1.2.1.2: The percentage of respondents „choices in using 27 price terms in Other Asia Chart 4.1.2.1.3: The percentage of respondents „choices in using 28 price terms in Pacific Rim Chart 4.1.2.1.4: The percentage of respondents „choices in using 29 price terms in Western Europe Chart 4.1.2.1.5: The percentage of respondents „choices in using price terms in Eastern Europe vii 30 goods under FOB price Nevertheless, in our country, the majority of import and export enterprises are doing the opposite When exporting, Vietnam enterprises deliver goods on ships at the port of Vietnam under FOB price Also, when purchasing, they receive goods by ship at the port of Vietnam under CIF price It should be noticed that when the goods are imported under CIF price, they become more expensive Vietnam importers not only bear the base price of goods but also have to pay additional cost for freight and insurance, which indicates a loss of more foreign currency for imports, whereas export under FOB price cannot earn much foreign currency for freight and insurance to offset the loss, leading to the trade balance deficit 4.1.2.2.1 In export In fact, the majority of commodities in Vietnam, even main exports which have large volume of transactions such as crude oil, coal and rice, are exported under FOB price This situation happens due to the lack of specialized vessels as well as enterprises‟ limited negotiating skill to maintain the sources of goods Table 4.1.2.2.1.1 Reference to export prices of some commodities at the rd week April 2012 Commodity Cabinet Unit (pine type pcs Price payment 237 FOB oak Cat Lai Harbor (Ho Chi Minh) Cabinet VE004 (2200x520x650) pcs (imported Term of (USD) border gate IV) (2175x730x2150) mm mm Exporting harbor/ 210 products, ICD Phuc Long FOB (Sai Gon) 100% new, produced in VN) Bed (pine type pcs 187 IV) (1930x2190x1250) mm Cat Lai Harbor (Ho Chi Minh) 33 FOB Source:http://vinanet.com.vn/tin-thi-truong-hang-hoa-vietnam.gplist.294.gpopen.201270.gpside.1.gpnewtitle.tham-khao-gia-xuat-nhap-khaumot-so-mat-hang-tuan-3-thang-4-2012.asmx Table 4.1.2.2.1.2 Reference to export prices of cashew nut in some markets on June th 2011 Commodity Price Market (USD/kg) Term payment Cashew nut type W240 9.77 Australia FOB Processed cashew nut type WW320 8.80 Australia FOB Semi-processed of cashew nut type 9.20 China EXW cashew nut type 8.90 China DAF Netherlands FOB WW240 Semi-processed WW320 Cashew nut type WW320 Semi-processed 8.93 cashew nut type 8.93 New Zealand FOB cashew nut type 9.10 Russia FOB cashew nut type 8.55 Russia FOB WW320 Semi-processed W320 Semi-processed W450 Source: http://www.thesaigontimes.vn/Home/nongsan/tintucthitruong/54852/Tham- khao-gia-dieu-nhan-xuat-khau-vao-mot-so-thi-truong.html Although Vietnam‟s businesses have gained an increasing number of commercial contracts with the export value of many items standing at the first or second place in the world market such as rice, coffee and rubber, 70% of which are exported under FOB price 34 4.1.2.2.2 In import Concerning imported goods (accounting for over 50% of total imports) from European continent as far as the U.S., Europe, etc., shipping agents in Vietnam reveal serious weakness Most of them have no negotiation power in other countries and doom to failure in efforts to gain transport right Table 4.1.2.2.2.1 Reference to import prices of some commodities at the rd week April 2012 Commodity Unit Coiled steel plate (0.30- ton Price Exporting harbor/ Term (USD) border gate payment 740 Cat Lai Harbor CIF 0.60) mm x (600-1250) of (Ho Chi Minh) mm x C m3 Iron and steel scrap 280 Tinh Bien border DAF gate (An Giang) Sawn oak (dried), thickness m3 4/4, length from 473 1m Cat Lai Harbor CIF (Ho Chi Minh) upwards Pressed fiber panel (3 ton 329,99 Cat Lai Harbor x1220x2440) mm Corn - Production materials ton CFR (Ho Chi Minh) 619 Hai Phong Harbor CFR for animal feed Source:http://vinanet.com.vn/tin-thi-truong-hang-hoa-vietnam.gplist.294.gpopen.201270.gpside.1.gpnewtitle.tham-khao-gia-xuat-nhap-khaumot-so-mat-hang-tuan-3-thang-4-2012.asmx The above examples clearly illustrate the habits of importing goods under CIF and CFR prices and exporting under FOB prices in various enterprises in Vietnam It 35 shows a common reality which has ingrained into the mind of businesses The businesses always want to avoid renting ship and other related cumbersome procedures, except play the role of consignees and consignors As a result, each year, nearly 170 million tons of goods imported through the port system of Vietnam bring a huge source of revenue for the maritime transportation industry several billion dollars, however nearly 80% market share belong to abroad shipping agents 4.2 Discussion of the findings In this part, the researcher gives explanation on the five most commonly used price terms in international transactions, respectively FOB price, EXW price, CIF price, FCA price and DDP price Then based on the high frequency of use of FOB price and CIF price in Vietnam, the researcher discusses about the country‟s advantages and disadvantages in using these prices 4.2.1 Explanation for some price terms’ high frequency of use in international freight FOB price is the most commonly used price term in international freight because of the increasing number of sea transport and the importance of logistics as sales strategy Once the FOB price is quoted in the sales contract, the seller has to bear all costs of handling at the port of shipment The seller prefers using FOB price to other types of price for some reasons First of all, the risk in loading on the ship is higher; therefore it is preferable that the seller controls the loading of the goods If goods are damaged before or during the load on the ship, the seller will be responsible Moreover, in case the seller has no experience in managing sea transport operation and the buyer can get a price of freight cheaper than the seller because of its trading volume or the transport route to be used, it is preferable that FOB price should be used As it can be seen from the table that FOB price is the most commonly used price term in Asia (including China) An example of Vietnam as an illustration for these statistics will be presented in the part below 36 Another frequently used price term by regions is EXW price The EXW price is the lowest price quotation that the seller can offer to buyer All the costs in international sales is not included in this prices; besides, the seller also bear s no risks In this sense, the seller may quote prices immediately, without having to make any calculations about the costs of the export operation EXW is also the only Incoterm in which the exporter does not have to carry out customs formalities for the export of goods Due to the above reasons, EXW price is often used in international sales between companies‟ subsidiaries belonging to the same multinational group or sales in an integrated economic era (e.g the EU) where there is free movement of goods without custom clearance Moreover, EXW price is also more preferred in full load operations (full container or truck) in which there is a single transport document for the whole journey, and where it is not necessary to carry out customs clearance since the goods are sent to a zone of countries (e.g the EU) It can be seen clearly from the table that, EXW price is one of the most frequently price term in Western Europe and Eastern Europe Like FOB price, CIF price is only applied when goods are shipped internationally Normally, seller employ CIF price for general cargo products of consumer products and industrial products of high value Due to a raise of maritime transport as a recent trend in international trade, the frequency in using CIF price has far increased When CIF price is quoted in the sales contract, the seller plays an important role in international logistics since he assumes the cost and management of sea transport to the port of destination in the buyer‟s country Besides, through maritime transport, the seller can benefit from lower rates or volume discounts on contracting with freight forwarder and logistic operators These benefits can be transferred to their prices which will improve the competitiveness of their offers On the other hand, while the seller has obligation to buy the insurance, the beneficiary in case of disaster is the buyer Therefore, the buyer can ask the seller to hire insurance with a company of good reputation and payable in the buyer‟s country 37 FCA price is often favored by seller because with FCA price, the seller manages logistics in their own country and performs export clearance; however, both activities not present excessive complexity In addition, FCA price is very flexible because it allows different places to deliver the goods depending on the type of transport used DDP price can be known as the reverse of EXW price, in which the seller calculates all costs, expenses and taxes, to place the goods at the agreed point in the destination country the only cost not assumed by the seller is the unloading of the goods at delivery place For the buyer, DDP is the most favorable price term since it has to assume the management, nor the costs and risks of international operations On the other hand, it allows the buyer to compare the offer of the foreign supplier (which includes all costs) with offerings from local providers to see which is more competitive Moreover, the evolution of logistics and the need to provide a complete service to customers have made DDP an Incoterm increasingly used 4.2.2 Vietnam’s advantages and disadvantages when using these prices It is the fact that when exporting and importing under FOB and CIF price relatively, Vietnamese enterprises have gained some benefits Since the majority of companies in Vietnam have very short experience and knowledge of international trade, especially in hiring ships or buying insurance, this method helps Vietnamese enterprises avoid suck risks as hiring poor quality ships and etc Moreover, concerning enterprises which have small volume of transactions with little costs and risks included, hiring ships will take time, money and efforts of businesses themselves Nonetheless, every coin has its two sides In Vietnam, the situation in which enterprises export goods under FOB price and import under CIF price also causes many disadvantages for the country and the enterprises themselves First of all, the increased costs and reduced earnings in foreign currency adversely affect the trade balance of the country It is known that the trade balance of a country is the net export value, and it equals to the export value minus the import value Importing under CIF 38 price leads to the loss of foreign currency to buy insurance and pay the freight for the shipping agents or abroad enterprises As a matter of fact, Vietnamese businesses cannot compete for the right to freight and buy insurance; therefore, export turnover will decrease and import turnover will increase, adversely affecting the trade balance of the country Secondly, exporting under FOB price makes the seller not proactive in transferring incurred risks and costs in relation to the goods to the buyer This drawback comes from the right to nominate the carrier which belongs to the buyer As a result, when the FOB price is quoted, in case the buyer does not specify the delivery time, the seller will be responsible for the cargo until it is delivered to the carrier Whereas, if Vietnamese enterprises carry out exporting transactions under CIF price, they will take fully active involvement in transferring risks and costs when holding the right to appoint the carrier 39 CHAPTER 5: CONCLUSION Major findings and contribution and limitations of the study together with suggestions for further studies are discussed in this chapter The preceding chapters have provided a certain amount of knowledge of 11 price terms in Incoterms 2010, especially concerning the matter of logistic costs that the buyer has to bear in according to each price term In this concluding chapter, major findings during the making of the paper, limitations of the research and some suggestions for further studies will be presented 5.1 Major findings and contribution of the research In this graduation paper, the researcher has completed a study on element price in 11 terms in Incoterms 2010 Concerning the process of conducting this research, in or to conduct the study effectively, a lot of theoretical materials relating to terminology, the content of 11 terms in Incoterms 2010 and the principle to calculate price following 11 terms were collected, referenced and analyzed by the researcher under supervisor's useful advices Then, only the most relevant data were utilized in order to serve the purpose of the study Thanks to qualitative and quantitative methods employed during the data analysis, the researcher has succeeded in reaching given objectives, bringing readers a deeper analysis of economic terms, specifically the price terms which are quoted in the contract of sale In summary, the study managed to identify three major findings as follows: + Firstly, the logistics costs included in each term are clearly identified + Secondly, the study pointed out the most commonly used price terms in other regions as well as the explanations for their high frequency of use 40 + Thirdly, the study also gave comments on the economic situation of Vietnam basing on the most frequently used prices in fields of export and import Generally speaking, this study would be appreciably valuable and constructive for the teaching, studying and developing of the subjects in English for Special Purposes division as well as for researchers who are performing on the related studies 5.2 Limitations of the study Because of the limited time to complete the study by the due date and the difficulty in finding suitable data for such a large observation size like the frequency of using these price terms by regions, some shortcomings in this study are unavoidable In addition, though it is an advantage that the researcher‟s major is in both language and economic, there still exists some issues raised during carrying out the paper which is beyond researcher‟s modest ability First of all, in chapter four, this research requires the information about importing and exporting activities from various regions in the world Consequently, the access ability to these documents is limited and it takes time for researcher to seek for and select the appropriate data However, it is the researcher‟s commitment that all sources of data in this study are reliable and the findings can be guaranteed in terms of accuracy Secondly, as the literature review in the research asks for specialized knowledge about international maritime transport which includes maritime terminology, it is not easy to fully understand all terms and demand the researcher‟s great efforts Finally, due to the university‟s regulation on the limited number of pages allowed for a graduation paper, the researcher only can analyze the aspect of cost borne by the seller in accordance to 11 terms Other issues related to these terms will need a further research in the future 5.3 Suggestions for further study 41 In this study, the researcher only focuses on analyzing the logistic costs included in each price terms as well as the frequency in using them in practice It should be noticed that other important aspects relating to 11 terms in Incoterms 2010 like the transfer of risks in transport from buyer to seller have not been discussed in this study yet Besides, the researcher also expects that other researches on these price terms will be carried out to provide readers a more comprehensive view on such an interesting and important topic as terms in INCOTERMS The study on seller and buyers‟ obligations in regards to export and import clearance following 11 terms is the researcher‟s recommendation for those who are appealed in this field The very few last words of this paper are intended to express the researcher‟s expectation that this paper will be of practical significance and usefulness to other students in University of Languages and International Studies-Vietnam National University as well as those who have intention of involving in business or becoming businessmen in the future 42 REFERENCES ENGLISH REFERENCES Astrup, J., Bertasi, S., Hassan, A (2003) Guide to Export-Import Basics, nd edition, No 641 New York: ICC Publishing Paris Debattista, C (2011, December 2) Professor Debattista on Incoterms 2010 Emily, O.C (2013) Incoterms® 2010 Q&A: Questions and expert ICC guidance on the Incoterms® 2010 rules New York: ICC Publishing International Shipping and Incoterms: what the New International Freight Shipping Terms Mean to You (2011) Supply Chain Consortium Kral, T (1994) Economic Consideration, English through content: Applied economics Washington D.C The materials Development and Review Branch Llamazares, O (2013) Practical guide to Incoterms Madrid: Business Publisher Nicolas, H., Gilbert, L., Jacques, R (May 2009) Business Environment Factors, Incoterms Selection and Export Performance, Vol 2, No 2, pp 63-78 Oscar G , Attorney, (June 2011) Incoterms and international sales contracts Washington DC Publisher Piltz, B., (24 April 2000) INCOTERMS and the UN Convention on the International Sale of Goods Published paper contained in Semenov O CISG online 20 years conference Retrieved February 10 from http://www.20jahre.cisg- library.org/piltz_intro.html Ramberg, J., (2011) ICC guide to Incoterms 2010 (2011 Edition) Paris: ICC Publishing Sassoon, D.M., (1967) The Origin of FOB and CIF Terms and the Factors Influencing their Choice 43 United Nations Development Programme (UNDP), (November 2008) Shipping and INCOTERMS – Practical guide Author: Procurement Support Office, Bureau of Management VIETNAMESE REFERENCES Hoàng Thị Bảy (2005) A study on the translation of economic terminology (Nghiên cứu dịch thuật ngữ chuyên ngành kinh tế) Nhà xuất Đại học Ngoại ngữ Mai Văn Sao (2009) Semantic feature of some basic delivery terms used in international business contracts (Các đặc điểm ngữ nghĩa số điều khoản giao hàng hợp đồng thương mại quốc tế) Nhà xuất Đại học Ngoại ngữ Nguyễn Trọng Thùy & Lê Chí Thanh (2007) Những điều kiện thương mại quốc tế Incoterms 2000 Nhà xuất Tài Nguyễn Xn Thiên (2011) Giáo trình thương mại quốc tế Nhà xuất Đại học Quốc gia Hà Nội Nguyễn Văn Tiến (2009) Giáo trình tốn quốc tế tài trợ ngoại thương UCP 600 & ISBP 681 song ngữ (pp 95-143) ( fourth edition) Nhà xuất Thống kê Nguyễn Hữu Hiền (2014) Bảo hiểm hàng hóa xuất nhập Việt Nam bối cảnh hội nhập kinh tế quốc tế Research and discussion Retrieved April 14, 2014 from http://www.baovietnhantho.com.vn/newsdetail.asp?websiteId=1&newsId=66&catId=3 3&lang=VN Ramberg, J., Nguyễn Trọng Thùy & Nguyễn Thị Được (2006) Hiểu sử dụng tốt Incoterms 2000 Nhà xuất Thống kê 44 DICTIONARIES Financial dictionary Retrieved February 10, 2014 from http://www.investopedia.com Business dictionary Retrieved February 10, 2014 from http://www.businessdictionary.com/ 45 GLOSSARY No Term Carrier Meaning explanation Company that transports goods and/or people by air, land, or sea, in its own or chattered vessels or equipment, and is named as the carrier in the contract of carriage Consignee the receiver of a consignment Consignor the sender of a consignment Consignment A quantity of goods that are sent or deliver somewhere Container Metallic box, of steel or aluminum, with double doors at one end, more and more in use on sea-routes, for easier handling and safe transportation of cargo Customs The documented permission clearance national customs authority grants to to pass that a imported goods so that they can enter the country or to exported goods so that they can leave the country The custom clearance is typically given to a shipping agent to prove that all applicable customs duties have been paid and the shipment has been approved Forwarding intermediary between suppliers, buyers and carriers, who agent arrange (Forwarder) documentation in accordance with instructions from their pre-transportation, shipping and issue of principals Freight (ocean A charge paid for carriage or transportation of goods by freight) air, land, or sea Logistics Planning, execution, movement and control of the procurement, and stationing of personnel, material, and 46 other resources to achieve the objectives of a campaign, plan, project or strategy It may be defined as the management of inventory in motion and at rest 10 Warehouse shed or storehouse where cargo is kept pending dispatch or retrieval 47 ... HỌC QUỐC GIA HÀ NỘI Đại học Ngoại Ngữ KHOA SƯ PHẠM TIẾNG ANH KH? ?A LUẬN TỐT NGHIỆP NGHIÊN CỨU VỀ CÁC YẾU TỐ GIÁ CẢ ĐƯỢC SỬ DỤNG TRONG 11 ĐIỀU KIỆN C? ?A “CÁC ĐIỀU KHOẢN THƯƠNG MẠI QUỐC TẾ 2010? ?? Giáo... is called main carriage Incoterms and the Incoterms in last group are called arrival Incoterms However, the terms in Incoterms 2010 are also divided into groups The terms for "any mode of transport"... Presentation of the 11 terms 10 Table 2.3.1.2: Classification of Incoterms 2010 as mode of transport 11 Table 2.3.1.3: Classification of Incoterms 2010 as Olegario Llamazares 11 Table 2.5.1: The categories