What is exw price – Troubleinthepeace


EXW is one of 11 international trade terms Incoterm 2010 and is the only one in group E. Therefore, EXW has many different features compared to other commercial terms. So what exactly is EXW? Responsibility, division of risks and costs between parties export and how to import when using EXW condition? Let’s find out in detail through the article below.

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1. What is EXW?

EX Works (abbreviated EXW) is a condition of Incoterms (International Commercial Terms – International commercial terms or conditions for international delivery).

EXW “Factory Delivery” means that the seller delivers the goods at the seller’s premises or at a designated location (e.g. workshop, factory, warehouse, etc.). The seller does not need to load the goods on the receiving vehicle nor do any work export customs clearance (if any). Buyers will take care of all the work from customs declaration for export, domestic transportation, international shipping, customs procedures for import and export, etc.

When using the term EXW, the parties should specify as clearly as possible the point at the named place of delivery as the costs and risks to that point are borne by the seller. The buyer bears all costs and risks involved in taking the goods from the named point, if any, at the named place of delivery.

Actually EXW condition can have different names depending on the place of delivery one can call this condition as:

-Ex factory (delivered at the factory): factory price

-Ex Mime (gaio at the mine): the best place to learn general accounting in Ho Chi Minh City

-Ex Warehouse (delivered at warehouse): ex-warehouse price

2.Separation of work and responsibilities of seller and buyer according to EXW . terms

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EXW condition

Seller’s job:

-Deliver the goods in accordance with the contract of sale, provide the buyer with the necessary documents, if practicable, and notify the buyer within a reasonable time of the time and place where the goods will be placed under buyer’s discretion.

– Bear all risks, costs and expenses incurred until the shipment is ready for acceptance by the buyer.

-Under this condition, the seller must place the goods under the control of the buyer within the time (time) and place specified by the contract. The seller is not responsible for loading the goods onto the means of transport, or clearing them for export unless otherwise specified in the contract.

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-Implement support measures for the buyer if required by the buyer or in the contract. Where to learn import-export business?

Buyer’s job:

-Pick up the goods at the premises or place agreed with the seller in the contract (receive the goods when the goods are ready for collection at the specified place or premises).

-Pay for the goods and bear all costs incurred in receiving the goods (costs of goods inspection, costs of paperwork, procedures to receive goods and export customs clearance, costs of insurance, expenses). the fee that the seller has spent to support me…). Is studying at Vinatrain good?

– Carry out the organization of transportation and bear all costs of loss, risk and do all the work to bring the goods out of the country of export and to their destination.

Because the EXW condition is an Incoterms condition, it is highly customizable, depending on the shipping customs of the countries. For example, according to the provisions of EXW, the loading and unloading of goods on the means of transport at the place of delivery is the responsibility of the buyer, but in Vietnam or the US, this work is usually done by the exporter. If the cost of loading and unloading is small, it is not worth mentioning, but if the cost is large, it should be considered to be specified in the foreign trade contract.

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Hope the article will be useful to you!

To better understand import and export operations, you can join import and export courses for beginners or Intensive import and export course at reputable import-export training centers to share knowledge from people with many years of experience in the profession.

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