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Hi Mike
I am fairly knew to the website, could you please advise if I would fall under the ENGLISH OR GLOBAL VARIANT? I am based in South Africa, secondly in the suggested exam topics under the global variant they have suggested two topics a) INCOTERMS the two new ones and b) SALE OF GOODS, PASSING OF RISK – could you possibly clarify what those subjects pertain to specifically – i assume the passing of risk has to do with ‘exclusion clauses’ – your clarification in this regard would be much appreciated! Rgds
Passing of risk is a matter which concerns the point at which ownership passes from seller to buyer and is directly an element of UN Convention on Sale of Goods.
It’s entirely your choice whether to do English or Global – place of residence is irrelevant – it’s your choice which variant you choose.
Does that help?
Obviously, you’re not doing the exam next Monday, so I’ll explain in general terms and you can check out the detail from your study resources, including an article in Student Accountant written by the examiner recently.
4 old INCOTERMS have recently been dropped and replaced by 2 new ones. The Kaplan study text which I see students using has NOT changed since the new terms were introduced, so the Kaplan text is WRONG.
Read the examiner’s article in Stud Accountant – you’ll get the picture
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