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EXW TEST ALL ANSWERS CORRECT

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EXW TEST ALL ANSWERS CORRECT EXW Test Questions and Answers What does EXW stand for in Incoterms? EXW stands for "Ex Works." It is an Incoterm that indicates that the seller has fulfilled their responsibility when the goods are made available for pick-up at their premises. ️️ Who is...

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  • November 10, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • exw test all answers correct

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  • EXW TST
  • EXW TST

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EXW TEST ALL ANSWERS CORRECT

EXW Test Questions and Answers



What does EXW stand for in Incoterms?

EXW stands for "Ex Works." It is an Incoterm that indicates that the seller has fulfilled their responsibility
when the goods are made available for pick-up at their premises. ✔️✔️



Who is responsible for the cost of transportation in an EXW arrangement?

In an EXW arrangement, the buyer is responsible for all transportation costs from the seller's premises
to the final destination. ✔️✔️



At what point is the risk transferred in EXW?

The risk is transferred to the buyer as soon as the goods are made available at the seller's premises.
✔️✔️



Is the seller required to load goods onto the buyer's transport vehicle under EXW?

No, the seller is not responsible for loading the goods onto the buyer’s transport vehicle under EXW. The
buyer assumes this responsibility. ✔️✔️



Who is responsible for customs clearance and payment of duties in an EXW transaction?

The buyer is responsible for both customs clearance and the payment of duties, as they handle the
transportation and importation process. ✔️✔️



Under EXW, who is liable if the goods are damaged or lost during transportation?

The buyer is liable for any damage or loss during transportation, as the risk is transferred to them once
the goods are made available for pick-up. ✔️✔️



Does EXW include the cost of insurance?

,No, EXW does not include the cost of insurance. The buyer may choose to arrange insurance if desired.
✔️✔️



What are the seller's obligations in an EXW contract?

The seller must make the goods available at their premises or another agreed location, properly
packaged and ready for transport. They are not responsible for loading or transportation costs. ✔️✔️



Who determines the carrier and shipping route in EXW?

The buyer determines the carrier and shipping route in an EXW arrangement. ✔️✔️



Can EXW be used for both international and domestic shipments?

Yes, EXW can be used for both international and domestic shipments as long as the buyer arranges the
transport. ✔️✔️



What documentation does the seller need to provide under EXW?

The seller must provide the buyer with proof that the goods are available for pick-up, such as a
commercial invoice and any export documents required. ✔️✔️



What happens if the buyer fails to pick up the goods from the seller's premises in an EXW contract?

If the buyer fails to pick up the goods, the seller’s responsibility ends, and the buyer bears any additional
costs, such as storage or additional transportation fees. ✔️✔️



Who is responsible for handling any additional costs such as storage or demurrage in EXW?

The buyer is responsible for handling any additional costs such as storage or demurrage since they
assume all risks once the goods are made available. ✔️✔️



Does EXW cover inland transport before the goods reach the seller's premises?

No, EXW does not cover inland transport to the seller’s premises; the buyer is responsible for all
transportation costs from the point of origin. ✔️✔️



Can EXW be used for ocean freight shipments?

, Yes, EXW can be used for ocean freight shipments, but the buyer would need to arrange for all
transportation from the seller’s location, including ocean freight. ✔️✔️



What is the role of the buyer under EXW in terms of export procedures?

The buyer is responsible for export procedures, including obtaining export permits and handling all
customs formalities. ✔️✔️



Can EXW be applied to both goods and services?

No, EXW applies only to goods, not services. It is a term specifically used for physical products. ✔️✔️



Is it necessary to specify the location for delivery in an EXW contract?

Yes, the location where the goods will be made available by the seller must be clearly specified in the
EXW contract. ✔️✔️



Does the seller need to provide transportation under EXW?

No, the seller is not responsible for providing transportation under EXW; the buyer takes on that
responsibility. ✔️✔️



How does EXW differ from other Incoterms like FOB?

In EXW, the buyer assumes all responsibility for transportation and risk from the seller's premises,
whereas under FOB (Free On Board), the seller is responsible for transportation up to the point the
goods are loaded onto the ship. ✔️✔️



What is the buyer’s responsibility regarding unloading goods in EXW?

The buyer is responsible for unloading the goods upon arrival at their destination, as the seller is not
responsible for unloading in EXW. ✔️✔️



Under EXW, does the seller need to notify the buyer before making the goods available?

While it is not a strict requirement, it is good practice for the seller to notify the buyer once the goods
are ready for pick-up under EXW. ✔️✔️

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