What is the difference between Ex Works and FOB origin?

What is the difference between Ex Works and FOB origin?

The main difference between Ex Works and FOB is that with Ex Works the importer is responsible for all aspects of transporting the goods from door-to-door, while with FOB the importer is responsible for the origin port to door at destination.

What does the shipping term Ex Works mean?

Ex works is a term used in shipping arrangements where the seller is only required to deliver goods at a predetermined location, and the buyer bears responsibility for shipping costs.

Who pays freight on Ex Works?

In an EXW shipment, the buyer is responsible for all transportation charges and must collect the goods from the seller. In a FOB shipment, the seller is responsible for exporting and paying the costs to load the cargo onto the vessel.

What is EXW price and FOB price?

FOB and Ex Works terms can both be used to ensure you know all of your costs from the start of the shipping process all the way up to receiving your goods. Ex Works terms leave all responsibility and risk in the hands of the buyer, whereas FOB terms split the responsibility down the middle.

How do you convert EXW to FOB?

FOB Value = Ex-Factory Price + Other Costs (b) Other Costs in the calculation of the FOB value shall refer to the costs incurred in placing the goods in the ship for export, including but not limited to, domestic transport costs, storage and warehousing, port handling, brokerage fees, service charges, et cetera.

Is Ex Works the same as ex factory?

How does Ex Works terms of delivery work? Ex works price and Ex-factory price are on of the same term. Ex factory or Ex works term is one of the delivery terms used in exports and imports.