WAEC Commerce 2012 Objective — Question 3
Question 3 of 50 from the West African Examinations Council (WAEC) Commerce 2012 Objective paper, with the correct answer and a full explanation.
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Which of the following is quoted when the buyer is responsible for the cost of loading the goods from the seller's warehouse up to his own warehouse?
- A. F.O.R
- B. C.I.F
- C. F.C.C
- D. A.S.D.LocoCorrect
Explanation
FAS means 'Free Alongside Ship'. This means that the seller has fulfilled his obligation of delivering the goods to his own warehouse. It is now left for the buyer to bear the cost of transporting the goods from the seller's warehouse to his own warehouse.
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