Import Purchase Interview Questions and Answers

Incoterms are a set of standardized trade terms used in international commercial transactions.

• Incoterms define the responsibilities of buyers and sellers in terms of transportation, insurance, and customs clearance.

• There are 11 Incoterms, including EXW, FOB, CIF, and DDP.

• The choice of Incoterm affects the cost, risk, and responsibility of both parties.

• Incoterms are regularly updated to reflect changes in the global trade environment.

• Using Incoterms can help avoid misunderstan...read more

IMPORT purchase can be challenging due to various factors.

• Language barriers

• Customs regulations

• Transportation logistics

• Payment methods

• Quality control

• Supplier reliability

• Political instability

• Currency exchange rates