Exercise 1.1 1. For the following three Incoterms' 2020, name the party that bears the COST for the listed stages of a shipment: buyer (B) or seller (S). Ocean freight charges Provide a commercial invoice Obtain an export permit Select carrier and make a booking Local cartage at origin Delivery to destination terminal Import Customs duty EXW Seller's FCA Door DAP Buyer's Door Seller's Door 2. Give the same type of answers for the transition of RISK points. Who bears the RISK: buyer (B) or seller (S)? Goods damaged while on the DDP Buyer's Door FCA Freight CIP Forwarder's Terminal Destination Address way to freight forwarder's terminal Goods washed overboard Goods destroyed by fire while at the freight forwarder's export terminal before the commencement of the main carriage Goods stolen while ready for pick up at factory 3. Out of the 11 Incoterms 2020, only under CIF and CIP is there an obligation to obtain marine (cargo) insurance. Who would you, as the freight forwarder, advise to obtain marine insurance under the E. F and other 2 C Incoterms?