Posts Tagged ‘EXW (Ex Works)’

To help demystify some of the greatest challenges facing the shipping and freight forwarding industry today, Trade Finance Global (TFG)’s Deepesh Patel spoke with Director of HR Maritime, Richard Watts.

Get your import & export processes right by understanding the key elements of Incoterms, Ex Works (EXW), common mistakes & best practices.

Business-to-business (B2B) transport and delivery practices are governed by Incoterms®, published by the International Chamber of Commerce (ICC). A typical contract for export/import is based on the Incoterms® rules and the contracts that surround it. 

Certified Documentary Credit Specialist Ravi Jinugu explains the motivations and rationale for variation of Incoterms® rules.

Assuming we are looking at the normal type of Letters of Credit with the latest shipment date, port/airport of loading, port or airport of destination and requirement to present an onboard B/L or an AWB, then the answer is “NO”.

As with all eleven of the Incoterms 2020 rules, article A1 tells us that the seller must provide the goods and the commercial invoice in conformity with the contract of sale and any other evidence of conformity that may be required by the contract.

Let’s look at the concept of “delivery” in EXW Incoterms 2020. The buyer must carry out export formalities, which can be problematic, but are there other potential problems that the rule does not explain?

Why do the Incoterms 2020 rules not deal with VGM (Verified Gross Mass of Containers?) There are several reasons…

Trade in much of the emerging and developing world, notably to, from and within Asia, but what does this mean for Incoterms Rules?

As part of the Incoterms 2020 Media Alliance with the ICC UK, Trade Finance Global reports important information on the rules that are changing for Incoterms at the end of the year. Using the wrong ICC Incoterm when trading goods worldwide exposes companies to greater risk and cost in the form of lost goods or unnecessary disputes

With numerous bodies and organisations speculating, pre-selling courses and providing information on fake incoterms, TFG gets behind incoterms 2020, why there are rumours, what’s fake, and what’s true.

A possible No Deal Brexit will have a profound impact on any importers, exporters, traders or producers that trade between the UK and the EU. This includes corporates with large… read more →

Even though shipping and containerised shipments have been happening for a long time, there is still a lack of basic understanding of the weights used in a container, transport requirements… read more →

We spoke to Hariesh Manaadiar, author of Shipping and Freight Resource on Bills of Lading. It’s important to remember that Commercial/trade information may be important to a buyer or a seller,… read more →

We spoke to Johnatas Montezuma, a shipping expert and specialist in complex supply chain solutions for some useful incoterms and shipping suggestions for first time exporters. A supply chain expert… read more →