Explain the following terms as used in international trade (a) LOCO (b) F.O.R (c) F.A.S (d) Bill of Landing (e) Cost Insurance and Freight

      

Explain the following terms as used in international trade
a. LOCO
b. F.O.R
c. F.A.S
d. Bill of Landing
e.Cost Insurance and Freight

  

Answers


Davis
LOCO - Price of goods whenever they are laying (transport,
packing expenses met by importer)
- FOR – price paid cover transport and loading for rail
- FAS –(Free alongside ship) price paid is for transport up to
alongside ship.
- Bill of lading- documents that are given particular of goods to be
shipped by a consignor to the consignee. It includes price of
consignment. A document of title.
-Cost Insurance and Freight-This means that the price quoted includes the cost of goods, insurance and freight charges.
Githiari answered the question on September 22, 2017 at 19:46


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