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What is Incoterm ex works (EXW)?
What is the ex works Incoterms® 2020 rule?
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Feb 28, 2024 · Reviewed by. Natalya Yashina. Fact checked by. Pete Rathburn. What Is Ex Works (EXW)? Ex Works (EXW) is an international trade term that describes when a seller makes a product...
Ex Works (EXW) Can be used for any transport mode, or where there is more than one transport mode. This rule places minimum responsibility on the seller, who merely has to make the goods available, suitably packaged, at the specified place, usually the seller’s factory or depot.
Ex Works (EXW) is the Incoterms® 2020 rule used to describe the delivery of goods by the seller at their own place of business, generally in their factory, offices or warehouse.
Incoterms, widely-used terms of sale, are a set of 11 internationally recognized rules which define the responsibilities of sellers and buyers. Incoterms specify who is responsible for paying for and managing the shipment, insurance, documentation, customs clearance, and other logistical activities.
May 10, 2024 · What Is EXW Incoterm? EXW, short for Ex Works, is a term used in international trade agreements sanctioned by the ICC representing an agreement between a buyer and a seller regarding the delivery of goods.
Jun 9, 2023 · Ex Works (EXW) Incoterm – Definition, Responsibilities & More. Part of the Comprehensive Incoterms Guide. Incoterms define the responsibilities of buyer and supplier in shipping. Ex Works (EXW) is one such term. Let’s explore what ExWorks incoterm is and what it means for shippers.
