The EXW incoterm is AKA Ex Works. True or False?

The statement is accurate because EXW, which stands for "Ex Works," is one of the Incoterms defined by the International Chamber of Commerce. It signifies that the seller has fulfilled their obligation to deliver when they make the goods available for the buyer at their premises or another named place (factory, warehouse, etc.). This term places the responsibility primarily on the buyer for all costs and risks involved in the transportation of the goods from the seller’s premises to the desired destination. Understanding this terminology is crucial in international trade as it delineates the responsibilities of the buyer and seller in transactions.