In 2020, the ICC issued its latest set of Incoterms, which consists of seven terms that apply to any mode of transport: EXW (Ex Works), FCA (Free Carrier), CPT (Carriage Paid To), CIP (Carriage ...

How EXW works. Of all Incoterms used, Ex Works places the highest possible obligation on the buyer, and the lowest possible obligation on the seller. It means that the seller simply makes the goods ...

So the rule of thumb when drafting your incoterm into an agreement is to always think of where, what and how? You can never go into too much detail when describing what your price includes. For ...

The official guide to Incoterms 2000 (Publication 560) c an be ordered from the International Chamber of Commerce, the drafting body for the transportation logistics incoterms terminology, at 156 ...

Ex Works (EXW) A transaction in ... Since this includes pre- carriage and export clearance in the seller's country, EXW is not a very practical Incoterm for U.S. exports. Most Popular Terms: ...

Other Incoterms are Cost, Insurance and Freight (CIF), Ex Works (EXW), Delivery Duty Paid (DDP), and Free Carrier (FCA). FOB and CIF are used exclusively for ocean bound freight.

Second of a series. In last week’s article, we discussed the relevance of Incoterms 2020 as well as the salient features of Incoterms EXW (Ex Works), FOB (Free On Board), CPT (Carriage Paid To) and ...