1- What is the meaning of utmost good faith? 2- How would you explain general average to a customer? 3-Name examples of losses that may be excluded in an insurance policy. 4-What is the main problem with using wood packaging when shipping items internationally? 5-What points do you have to remember when loading an ocean and air freight container? 6-CHIPS Company in Toronto sells electronic connectors to DATA Company in Germany. Terms of delivery: CPT Frankfurt, Germany, Incoterms 2020 20 skids @ 220 kg each, loaded in 1 x 40-ft container, value is CAN $36,000.00. A - Who is responsible for contracting and paying the freight charges? B-If the container is washed overboard and the whole shipment is lost at sea, who suffers the loss? C-Should the seller in Toronto insure the connectors? D-Why or why not? 7-Determine the insured value at CIP + 10% and insurance premium for the shipment described below: Supplier: Winnipeg Windings Ltd. Goods sold: CIP Port Sao Paulo, Brazil, Incoterms 2020 Transformer & parts (break bulk shipment) Invoice value Winnipeg: CAN $110,000.00 Inland freight to New Orleans and port terminals: CAN $3,000.00 IBM 1002 Essential of Freight forwarding W2022 Prepared by Dr. Eduard M. V Export crating: CAN $1,000.00 Documentation, legalization, handling: CAN $1,100.00 Heavy lift charge port of New Orleans: US $2,000.00 Ocean freight to Sao Paulo, Brazil: US $5,315.00 All risk marine premium 0.28% Use exchange rate 1 USD = 1.02 CAD Invoice value Winnipeg: CAN $110,000.00 Inland freight to New Orleans and port terminals: CAN $3,000.00 Export crating: CAN $1,000.00 Documentation, legalization, handling: CAN $1,100.00 Heavy Lift charge port of New Orleans: CAN $2.040.00 Ocean freight to Sao Paulo, Brazil: CAN $5,421.30