TRUE OR FALSE

1.Incoterms rules do not involve the main consideration or price for the object of a commercial transaction, i.e., the goods being purchased.

2.Multi-modal Incoterms are for other modes of transport other than by water vessel.

3.Incoterms rules are issued and updated by the International Institute for the Unification of Private Law or Unidroit.

4.It is possible to have a commercial transaction without using Incoterms.

5.Notwithstanding the buyer paying for the consideration or price of the object of the transaction, they may be made to pay certain costs relating to the shipment of the goods based and depending on Incoterms rules.