Curriculum
Understanding & Applying Incoterms 2020
Module 1: Introduction to Incoterms
0/3
Module 2: Ex Works (EXW)
0/5
Module 3: Free Carrier (FCA)
0/5
Module 4: Carriage Paid To (CPT)
0/5
Module 5: Carriage & Insurance Paid To (CIP)
0/5
Module 6: Delivered at Place (DAP)
0/5
Module 7: Delivered at Place Unloaded (DPU)
0/5
Module 8: Delivered Duty Paid (DDP)
0/5
Module 9: Free Alongside Ship (FAS)
0/5
Module 10: Free On Board (FOB)
0/5
Module 11: Cost and Freight (CFR)
0/5
Module 12: Cost Insurance and Freight (CIF)
0/5
Module 13: Choosing the Right Incoterm
0/4
Module 14: Practical Application and Case Studies
0/3
EXW Overview
Definition: EXW, or “Ex Works”, is often used when both parties prefer a straightforward arrangement, especially in situations where the buyer is experienced in international trade, wants control over transportation logistics, and is comfortable with assuming the associated responsibilities and costs.
It’s important for both parties to clearly define the named place and t ime for delivery and ensure that the goods are available as agreed. This trade term offers flexibility but also places a significant burden on the buyer in terms of logistics and risk management.
Modes of Transportation: EXW can be used regardless of the chosen mode(s) of transportation, including air, land, rail, or sea.
Application: EXW designates that the transfer of obligation occurs at the named place of delivery, prior to the main carriage. This Incoterm is commonly indicated in contracts as EXW (insert named place of delivery), for instance, EXW GoodEquipment Private Limited Warehouse 1.