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LSDefine
Simple English definitions for legal terms
delivered ex ship
Read a random definition: Statute of limitations
A quick definition of delivered ex ship:
Delivered Ex Ship (DES) is a term used in business contracts for buying and selling goods. It means that the seller is responsible for getting the goods to the buyer's port of destination, but the buyer is responsible for unloading the goods and paying any import duties. The seller's responsibility ends when the goods arrive at the port, and the buyer takes on the risk of any damage or loss. This term is only used for goods transported by sea or inland waterway.
A more thorough explanation:
Definition: Delivered ex ship is a term used in business contracts that outlines the responsibilities of the buyer and seller regarding the delivery, payment, and risk of loss of goods. The seller is responsible for clearing the goods for export and paying for transportation costs to the destination port. The delivery is considered complete when the seller's carrier arrives at the destination port, and the risk of loss passes to the buyer. This term is only used for goods transported by sea or inland waterway.
Example: A company in China sells 1000 units of a product to a company in the United States. The contract states that the delivery terms are "delivered ex ship." The Chinese company is responsible for clearing the goods for export and paying for transportation costs to the port in the United States. Once the goods arrive at the port, the delivery is considered complete, and the risk of loss passes to the US company.
Explanation: This example illustrates how the term "delivered ex ship" outlines the responsibilities of the buyer and seller in a business contract. The Chinese company is responsible for clearing the goods for export and paying for transportation costs to the destination port. The US company is responsible for unloading the goods and paying any import duties. The delivery is considered complete when the goods arrive at the port, and the risk of loss passes to the US company.