Delivered Ex Ship(redirected from Ex Ship)
Delivered Ex Ship (DES)
Seller fulfills the contract obligations when the goods have been made available to the buyer on board a ship at the named port of destination. The seller must bear all costs and risks associated in bringing the goods to the named port of destination. The buyer is responsible for all costs necessary to unload the goods and clear them through customs. Unloading costs are included the ocean freight charged by most ship lines. The DES is most often used for charter shipments.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Delivered Ex Ship
In international commerce, an agreement between a buyer and a seller in which the seller must bear all costs and risks of transporting a good until it has arrived at a port and has been made available for the buyer or his/her agent to retrieve it. That is, the seller has total responsibility while the good is being shipped overseas. The seller must pay the shipping company and purchase insurance for the good. See also: Incoterm.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved