Workshop Update for November 12th, 2012

We finished the Kochi video.

We’re trying to get some stuff shipped by sea from Shenzhen, so we’re trying to figure out what shipping terms mean. FOB? EXW?

3 comments on this post.
  1. JBeale:

    “Under the Incoterm standard published by the International Chamber of Commerce, FOB stands for “Free On Board”, and is always used in conjunction with a port of loading.[1] Indicating “FOB port” means that the seller pays for transportation of the goods to the port of shipment, plus loading costs. The buyer pays cost of marine freight transport, insurance, unloading, and transportation from the arrival port to the final destination. The passing of risks occurs when the goods pass the ship’s rail at the port of shipment.” …from http://en.wikipedia.org/wiki/FOB_%28shipping%29

    “Ex-Works or EXW is the price of the product from the manufacturer’s works, factory, warehouse or other nominated place, duly packed but before transportation and all other expenses. So if you’re buying Ex-Works, you pay the quoted price agreed to and arrange your own transporter to collect.”
    …from http://voices.yahoo.com/ex-works-does-mean-import-export-terminology-2527651.html

  2. Brett P:

    FOB is most likely “free on board”, http://www.thefreedictionary.com/Free+On+Board

    EXW is most likely Ex Works, http://financial-dictionary.thefreedictionary.com/Ex+Works

  3. Hendrik Lipka:

    To get an overview, look at the list of IncoTerms: http://en.wikipedia.org/wiki/Incoterms

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