Final test EXPORT — IMPORT MANAGEMENT _UEH

1 THE MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY (UEH) SCHOOL OF FOREIGN LANGUAGES FOR ECONOMICS FINAL EXAM SUBJECT: EXPORT — IMPORT MANAGEMENT Student name: Class: AV— Course: 44 5 Discuss the major differences between FOB Saigon port and CIF in Osaka port - Conditions in Incoterm: + CIF terms - cost, insurance, freight + FOB delivery conditions - delivery on board - Insurance: + FOB : the seller is not required to purchase insurance + CIF : the seller is responsible for signing an insurance policy for the export shipment, which usually stipulates a minimum insurance policy of 110% of the value of the goods - Responsibilities of chartered transport: + FOB : the seller does not need to charter the ship, the buyer is responsible for booking the ship + CIF : the seller must find the shipping vessel, the buyer is not responsible for finding the shipping vessel - The final place to terminate the obligation: Although both have the same risk transfer position as the ship's rail, with CIF you have to have "final" responsibility when the goods have passed to the port of discharge + FOB : the seller delivers the goods to the ship's rail of the loading port, the responsibility and the risk are transferred to the buyer The seller does not need to charter the vessel and does not need to buy insurance + CIF : the seller buys insurance for the shipment, the risk transfer position at the ship's rail However, the last place for the seller to take full responsibility is at the port of discharge  ... the shipping vessel - The final place to terminate the obligation: Although both have the same risk transfer position as the ship's rail, with CIF you have to have "final" responsibility when... to purchase insurance + CIF : the seller is responsible for signing an insurance policy for the export shipment, which usually stipulates a minimum insurance policy of 110% of the value of the