Dispute must except the decision of the mediator

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Reference no: EM132270721

TRUE OR FALSE

Litigation (or a trial) is that, fastest and cheapest way of trying to settle a claim.

In case of mediation, the two parties involved in the dispute must except the decision of the mediator.

In case of arbitration, the two parties involved in the dispute must except the decision of the arbitrator.

The pro forma invoice is issued by the purchaser of the goods (the importer, in case of an international trading operation)

The packing list is issued by the buyer of the goods (the importer, in case of an international trading operation).

The bill of lading (B/L) is the proof (documental proof) that the goods have been loaded in the ship.

In case of a competitive tender procedure, in the request for quotation, the purchase dept. of the institution selects potential suppliers and send them a request for an offer with the characteristics of the required product and deadlines.

FOB means full on border, which means that in case of using the incoterm, the goods will be completely delivered in the border of the country of arrival.

CIF means complete in flight, which means that in case of using the incoterm, the goods will be completely delivered from the plane in the airport of departure.

In a free economic zone, companies are taxed higher than in the rest of the country.

Trading of dual use products is free and is not subjected to any special control, as long as they are produced in a country that is part of the Schengen group.

In military bases, extraterritoriality is applied.

Reference no: EM132270721

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