Just a question regarding ex works | Forex Trading and Money Exchange

Just a question regarding ex works
Posted 17 December, 2009 by Noelia Floyd from Vereeniging
Dear High rolling Priest, thank you, Priest for a most terrific site. I'm new at trading, and i have a question for you about a term that i don't conceive: what is ex works?
High rolling Priest Answers:
Thanks for the vote of confidence. Ex works is A trade term requiring the seller to deliver goods at his or her own place of business. All other transportation costs and risks are assumed by the buyer. Contracts involving international transportation often contain abbreviated trade terms that outline matters such as the time and place of delivery and payment, the time when the risk of loss shifts from the seller to the buyer, and the party who pays the costs of freight and insurance. The most commonly known trade terms are Incoterms, which are published by the International Chamber of Commerce. These are often identical in form to domestic terms, such as the American Uniform Commercial Code, but have different meanings. As a result, parties to a contract must expressly indicate the governing law of their terms. It's important to realize that because this is a legal term, its exact definition is complicated and differs by country. It is suggested that you contact an international trade lawyer before using any trade term.
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