EXW - Ex works Flashcards
What does “Ex Works” means?
Means that the seller delivers the goods to the buyer when it places the goods at the disposal of the buyer at a named place of delivery (like factory or warehouse);
In Ex Works is it necessary for the place of delivery to be the seller’s premises?
No
In Ex Works Is seller obligated to load the goods on any collecting vehicle?
no
In Ex Works does the seller need to clear the goods for export, where such clearance is applicalbe?
No
For which mode of transports is the EX Works used?
all modes of transport
Why should the buyers be cautious with Ex Works?
Because it imposes the least set of obligations on the seller and more on buyer.
When does the delivery happen in Ex Works?
when the goods are placed, not loaded, at the buyer’s disposal.
When does the risk transfers in Ex Works?
when the goods are placed, not loaded, at the buyer’s disposal.
To transfer the risk from seller to buyer is it needed for the goods to be loaded on a vehicle in Ex Works?
No
Where the buyer is keen to avoid any risk during loading at the seller’s premises, which Incoterm should the parties consider instead of EX Works?
FCA
Is seller obligated to deal with export clearance in Ex Works?
No
whose responsibility is it to deal with export formalities in EX Works?
Buyer?
whose responsibility is it to deal with import formalities in EX Works?
Buyer
What happens when no specific point has been agreed within the named place of delivery and if there are several points available In Ex Works?
The seller may select the point that best suits its purpose.
When should the seller deliver the goods In Ex Works?
On the agreed date or within the agreed period