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Hello Mr Mike,
From BPP revision kit,
which of the following contractual terms are not covered by the ICC Incoterms ?
A Price
B Insurance
C Carriage
D Import CostsThe correct answer is A
but why the price is not covered and in the same time we have for example CIF , CFR,FOB which contain the price of the good ,please clarify
Thanks,
Those terms that you mention (and the others too) specify which party shall be responsible for costs up to different points in the process of sale and delivery of goods
Incoterms cannot deal with the actual price of the goods themselves – that’s clearly an area for the two contracting parties to sort out between themselves
But the Incoterms attempt to resolve potential disputes that may arise concerning the various incidental costs of sale and delivery
Make sense?
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