Craft an SEO friendly 1000-word article based on this youtube script International Commercial Terms are a set of rules that define the obligations between a buyer and seller when negotiating international and domestic trade. Each of the 11 incoterms clearly state which party is responsible for the risks and costs of a shipment … and which mode of transport these terms apply to. Points of delivery, customs management and additional taxes are also outlined within these terms. Ex Works (EXW/Ex factory) is one of the 11 Incoterms used in international trade. Under this incoterm, the risks and costs of a shipment are the sole responsibilities of the buyer. Picture this… Benny owns a clothing store in Australia. He has recently purchased 500 shirts from Susan, a supplier in the US, and they have agreed on the Incoterm ‘Ex Works'. EXW puts the ball entirely in the buyer's court. This means Benny is responsible for all the costs and risks associated with shipping his order from the origin location to his front door. This could include costs such as loss or damage of goods, or additional charges like customs or taxes. Unlike Ex Works (EXW), where the buyer is solely responsible for the shipment, FOB (Free On Board) splits the origin and destination fees between both buyer and seller. Remember Benny and Susan? The pair are again engaging in trade but this time they have negotiated the Incoterm FOB. In this scenario, Susan is responsible for the costs and risks associated with shipping the goods from her factory door, up to it being loaded on the ship at the origin port. It's from this point on that the responsibility passes to Benny. He is now accountable for the shipment once it has boarded the ship (including freight charges) all the way to his front door. Also known as Delivered Duty Paid, this incoterm states that the seller takes majority of the responsibility for the shipment. Where Ex Works (EXW) places the ball entirely in the buyer's court, DDP offloads liability to the seller, with the exception of unloading the goods at the destination. In this scenario, Susan the seller is responsible up to the point of delivery at the destination of Benny the buyer's choosing. Benny is then liable for the goods being unloaded from the delivery truck at his store loading dock. DDP is the only incoterm that has the seller assume responsibility for import clearance and payment of taxes and/or import duty. For more information visit the TGL website . Create article sections with HTML headings. If no transcript is available, summarize the video based on the video title

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Subject: International Commercial Terms