ERTHSTO 4. Decide whether the following statements are true or false. (1) Incoterms set out the obligation of the buyer. ( ) (2) Under the term CFR, it is the seller's responsibility to procure the insurance transported. ( ) (3) Documentary credit offers a high degree of safety for both the buyer and seller. (4) Advance payment, open account, documentary collection and letter of credit are the usual means of payment to settle international trade transactions. ( ) (5) To the seller of the goods, the most satisfactory arrangement as far as payment is concerned is to receive it in advance. ( ) (6) The term FAS can only be used for sea or inland waterway transport. (7) The term EXW represents the minimum obligation for the importer. ( ) ( The trade term DES should be followed by named port of destination. (9) Clean collection is collection for financial documents without commercial documents being attached. ( ) (10) Trade on open account terms usually satisfies the seller's desire for cash and the importer's desire for credit. ( ) 5. Choose the best answer to each of the following statements