Ex Works (EXW)
A transaction in which the seller's only responsibility is to make the ordered goods available to the buyer at the seller's premises. The buyer bears the cost and risk in transporting the goods from the seller's premises to destination. Since this includes pre- carriage and export clearance in the seller's country, EXW is not a very practical Incoterm for U.S. exports.
Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University