a)LOCO or Ex-warehouse or ex- works
Price quoted covers the goods as they are in the exporter’s premises. The importer has to meet the costs of moving the goods from the exporter’s premises to their destination.
b)F.O.R (Free on Rail)
Price quoted includes the expenses for transporting the goods from the seller’s warehouse up to the nearest railway station.
c)D.D (Delivered Docks)
Price quoted includes expenses up to the docks. A dock is a place where ship awaits for cargo.
d)F.A.S (Free Alongside ship)
Price quoted includes transport expenses up to the docks as well as dock charges.
e)F.O.B (free on Board)
The price quoted includes the movement of goods up to when they are in the ship.
f)C & F (Cost and Freight)
The price quoted includes the cost as well as shipping charges.
g)C.I.F. (Cost insurance and Freight)
The price quoted includes the cost of goods, cost of transport and insurance cover against marine risks up to importers port of entry.
h)Loaded
Price quoted includes all expenses up to the port of destination as well as unloading charges.
i)In bond
The price quoted includes the expenses of handling the goods in the bonded warehouse. However, storage charges and customers duties are met by the buyer
j)Franco (free of Expenses)
This includes the cost of goods and any other expense up to the importers premises. This means that the importer does not incur any other expense other than the quoted price.
k)O.N.O (or nearest offer the quoted one.)
This means that the exporter is willing to accept the quoted price or any other nearest to the quoted one.
sharon kalunda answered the question on February 19, 2019 at 11:09
- What is meant by the term terms of sale in international trade?(Solved)
What is meant by the term terms of sale in international trade?
Date posted: February 19, 2019. Answers (1)
- Explain how devaluation helps in correcting the balance of payments disequilibrium?.(Solved)
Explain how devaluation helps in correcting the balance of payments disequilibrium?.
Date posted: February 19, 2019. Answers (1)
- How does encouraging foreign investors into the country help in correcting the balance of payments disequilibrium?.(Solved)
How does encouraging foreign investors into the country help in correcting the balance of payments disequilibrium?.
Date posted: February 19, 2019. Answers (1)
- List FOUR measures which can be taken to correct balance of payment disequilibrium.(Solved)
List FOUR measures which can be taken to correct balance of payment disequilibrium.
Date posted: February 19, 2019. Answers (1)
- State and explain the Causes of Balance of payments Disequilibrium.(Solved)
State and explain the Causes of Balance of payments Disequilibrium.
Date posted: February 19, 2019. Answers (1)
- When does the balance of payment disequilibrium occur?(Solved)
When does the balance of payment disequilibrium occur?
Date posted: February 19, 2019. Answers (1)
- List and explain the three major components of the balance of payment accounts.(Solved)
List and explain the three major components of the balance of payment accounts.
Date posted: February 19, 2019. Answers (1)
- Name three instances where transaction may arise.(Solved)
Name three instances where transaction may arise.
Date posted: February 19, 2019. Answers (1)
- What is the meaning of the balance of payment accounts.(Solved)
What is the meaning of the balance of payment accounts.
Date posted: February 19, 2019. Answers (1)
- What do you understand by the term terms of trade.(Solved)
What do you understand by the term terms of trade.
Date posted: February 19, 2019. Answers (1)
- State and explain the disadvantages of international trade.(Solved)
State and explain the disadvantages of international trade.
Date posted: February 19, 2019. Answers (1)
- List and explain the advantages of international trade.(Solved)
List and explain the advantages of international trade.
Date posted: February 19, 2019. Answers (1)
- What is balance of payment Accounts?(Solved)
What is balance of payment Accounts?
Date posted: February 19, 2019. Answers (1)
- Outline occupations that relate to the production activities(Solved)
Outline occupations that relate to the production activities.
Date posted: February 14, 2019. Answers (1)
- Functions of the International Bank of Reconstruction and Development include:(Solved)
Functions of the International Bank of Reconstruction and Development include:
Date posted: February 14, 2019. Answers (1)
- Characteristics of underdevelopment that are common among countries in Africa, Latin America and Asia(Solved)
Characteristics of underdevelopment that are common among countries in Africa, Latin America and Asia
Date posted: February 14, 2019. Answers (1)
- Benefits that a firm may enjoy by preparing a business plan(Solved)
Benefits that a firm may enjoy by preparing a business plan.
Date posted: February 14, 2019. Answers (1)
- Objectives that may be attained by establishing firms in different parts of the country(Solved)
Objectives that may be attained by establishing firms in different parts of the country
Date posted: February 14, 2019. Answers (1)
- Accounting documents that are used in home trade(Solved)
Accounting documents that are used in home trade
Date posted: February 14, 2019. Answers (1)
- Guidelines that should be followed by the government in its expenditure(Solved)
Guidelines that should be followed by the government in its expenditure.
Date posted: February 14, 2019. Answers (1)