The incoterm titled _______________ is when delivery takes place at the seller's premises or another named place and is the lowest incoterm.

The incoterm known as EXW, or Ex Works, signifies that the seller's responsibility for delivering the goods ends when they make the goods available at their premises or another named location. In this arrangement, the buyer assumes nearly all responsibilities and risks once the goods are made accessible. This means the buyer must handle all subsequent transportation, export and import duties, and insurance.

EXW is often regarded as the least favorable incoterm for the seller because their obligations are minimal and limited to making the goods available. From a buyer's perspective, while the buyer has more responsibility and control over the shipping process, they also incur more risk and costs. The essence of EXW is to place the burden of risk and logistics heavily on the buyer, distinguishing it from other incoterms that typically involve a greater share of responsibilities for the seller.