Question 1

Free on Board is a common set of rules used for defining the responsiblities of seller and buyer in the delivery of goods under sales contract

Answer

true

Question 2

Both the Ocean Bill of Lading and Inland Bill of Lading can allow the shipping carrier to ship cargo by raod or rail.

Answer

true

Question 3

A document issued by consignor to shipowner that serves as a statementof ownershipof goods is called Bill of Lading.

Answer

true

Question 4

In 1923 a Trade Term Committee developed the first 6 rules that would later be known as Custom rules in shipping

Answer

true

Question 5

Inland Bill of Lading allows the shipper to transport the cargo over seas

Answer

true

Question 6

Consignor is the same asConsignee

Answer

true

Question 7

Contract between a shipowner and another person in which the shipowner agrees to carry cargo

Answer

true

Question 8

Bills of Ladings is the correct shipping term

Answer

true

Question 9

Two types of contract of affreightment are Commercial Invoice and Sales Agreement

Answer

true

Question 10

Key function in shipping are Evidence of Contract of Carriage, Receipt of Goods and Document of Title to the good.

Answer

true

Incoterms and bills of lading in shipping: Unit 1-4

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