Curriculum
Course: Understanding & Applying Incoterms 2020
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Curriculum

Understanding & Applying Incoterms 2020

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EXW Obligations

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Seller’s Obligations

  1. Supply of Goods: Prepares the agreed goods in accordance with the contract.
  2. Delivery: Makes the goods available at the agreed location and date without loading them onto transportation.
  3. Transfer of Risks: Bears risks until the point of delivery.
  4. Carriage: Provides transportation information upon buyer’s request.
  5. Insurance: Offers insurance information upon buyer’s request.
  6. Proof of Delivery: No specific obligation; it’s the buyer’s responsibility.
  7. Export/Import Clearance: Assists the buyer in obtaining necessary documents when required.
  8. Checking/Packaging/Marking: Ensures quality checks, packaging, and labeling, unless otherwise agreed upon.
  9. Allocation of Costs: Bears costs until goods are handed over.
  10. Notices: Provides necessary notifications to assist the buyer in taking possession of the goods.

Buyer’s Obligations

  1. Payment: Pays the agreed price for the goods.
  2. Taking Delivery: Accepts the goods promptly when made available at the agreed location and date.
  3. Transfer of Risks: Assumes responsibility for any loss or damage to the goods from the point of delivery.
  4. Carriage: Arranges and covers the costs of transportation from the named collection place onwards.
  5. Insurance: Not obligated to obtain insurance.
  6. Proof of Delivery: Provides clear proof of goods receipt to the seller.
  7. Export/Import Clearance: Handles and bears the costs of necessary clearance formalities.
  8. Checking/Packaging/Marking: No obligations; these responsibilities fall on the seller.
  9. Allocation of Costs: Pays relevant costs, reimburses the seller in specific cases, and covers customs charges. The buyer is also responsible to cover any additional expenses due to their failure to fulfill obligations (if applicable).
  10. Notices: Notifies the seller sufficiently if obligated to choose the time or place of collection.