Why Is My Supplier Quoting 2 Prices – What Do FOB and Ex Work Mean in My Sales Contract?
FOB (Free on Board) and Ex Work are 2 common legal terms used in global trade law, these sets of business terms are otherwise known as Incoterms. Established in 1936 and revised every ten years by the International Chamber of Commerce (ICC), Incoterms are used worldwide in international and domestic contracts in the sale and transfer of goods by governments, local authorities and law practitioners worldwide. They make the process easier and remove uncertainties such as the different interpretation of rules in various countries. […]
