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WAEC Commerce 2004 Question 24

Question 24

Foreign Trade Documents

C & F as a price quotation in foreign trade means that the buyer

  1. A.is responsible for clearing and forwarding the goods
  2. B.has to pay for cost and freight
  3. C.pays for both the freight and insurance
  4. D.pays for insurance only
Show the answer and explanation

Answer: B (has to pay for cost and freight)

Explanation

A C & F price includes cost and freight, so the buyer pays cost and freight but arranges insurance himself.