Ex Works (EXW)

Ex Works in an incoterm used during international shipping wherein the seller has the least obligation. Ex works require the seller to make the goods available to be picked up by the buyer at the seller’s premises. Under this agreement, the seller does not hold the responsibility of loading the goods or clearing export. Instead, the buyer is responsible for shipping the goods, including clearing customs, loading and unloading goods, bearing all costs and risks and so on.