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WAEC Commerce 2006 Question 9

Question 9

Foreign Trade Documents

The price quotation where the buyer uses his own means to collect goods from the producer's warehouse is

  1. A.F.O.B.
  2. B.ex-works
  3. C.F.A.S.
  4. D.F. O. R.
Show the answer and explanation

Answer: B (ex-works)

Explanation

An ex-works price covers the goods only at the producer's premises; the buyer collects them.