EXP Shipping Abbreviation

Ex Works Price

Exworks Price (EXP) is a shipping and trade term used to indicate the cost of goods at the seller’s premises, excluding transportation, insurance, and export duties. Under this arrangement, the buyer assumes responsibility for all logistics and risks once the goods are made available at the seller’s location. This makes EXP one of the simplest and most common pricing terms in international trade, especially under Incoterms.

In the shipping and logistics industry, EXP is significant because it clearly defines the division of costs and responsibilities between seller and buyer. While sellers benefit from minimal obligations, buyers must arrange transportation, customs clearance, and insurance, which can increase complexity and costs. Understanding EXP is crucial for businesses engaged in cross-border trade, as it directly impacts financial planning, risk management, and contractual clarity.