Does anybody in the community know what the term 'ex-wrks' means when getting a quote from a supplier. Any help greatly appreciated for a newbie on the forums.
EXW - EX WORKS - (...NAMED PLACE): "Ex Works" is the minimum/lowest obligation of a seller under Incoterms. The seller agrees to make the goods available to the buyer at the seller's premises (named place). The seller under EXW is not even responsible for bearing the cost of loading the goods onto the vehicle provided by the buyer, unless otherwise agreed in advance. The buyer bears the full cost and risks involved in bringing the goods from the EXW location to the ultimate destination. N.B. "Works" can mean "factory" or "warehouse" or "plant" - virtually anywhere defined by seller since EXW is must always to be followed by a "named place". It is seller's responsibility during initial negotiations to clearly identify the named place/location.
Newbie Question Alert Term Definition Req
Linear Mode
November 2009
