Ex Work (EXW) means that the seller X has the goods ready for collection at his premises (Works, factory, warehouse, plant) on the date agreed upon. The buyer pays all transportation costs and also bears the risks for bringing the goods to their final destination. In the other words, the seller will not take any responsibility to deliver the products sold out of his own premises. The buyer will have to come to seller premises to pick up the product they have bought. This term requires that the buyer must be able to carry out export formalities in the country of supply, these days almost impossible.
Explanation of Free on Board (FOB) is coming up in next post. Thank you for visiting Zephyr Free Online Learning Center.
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1 comment:
really like your blog dear. Very knowledge full your post.....
Incoterms 2010
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