Certified Supply Chain Professional (CSCP) Practice Exam

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Prepare for the Certified Supply Chain Professional Exam with a comprehensive quiz featuring multiple choice questions and essential study material. Gain the knowledge and confidence needed to excel in your certification journey!

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What does EXW stand for in shipping terms?

Ex Works
Export Warranty
Except When Volatile
Extended Warranties

The correct answer is: Ex Works

EXW stands for "Ex Works," which is a shipping term used in international trade. It indicates that the seller is responsible for making the goods available at their premises or another named place, like a factory or warehouse. The key aspect of EXW is that the seller has fulfilled their responsibility once the goods are made available for pickup. Under the EXW term, the buyer takes on most of the responsibilities, including transportation, export clearance, and insurance, from the seller's premises to the final destination. This means that the buyer must manage the logistics from that point onward, bearing all costs and risks involved in moving the goods. EXW is particularly useful for buyers who want more control over the shipping process and costs or have experience in managing international shipments. However, it can also place a significant burden on the buyer if they are not fully prepared to handle the logistics and legal requirements associated with international trade.