DEQ “Delivered Ex Quay” Well here it is the most popular Incoterm of all…..errr actually I have never seen this Incoterm used in my business dealings, but that is not to say that this particular Incoterm is of no value. The DEQ Incoterm is only used for ocean or inland waterway shipments. Under DEQ, the seller or exporter is responsible for clearing the goods for export and for making them available to the buyer on the quay (wharf) at the named port of destination. In order for this particular Incoterm to be used correctly a named port of destination must be stated. After the goods have been made available at the destination wharf, the buyer is then responsible for the import clearance, duties, inland delivery and all other destination fees incurred up to the final destination.
Under DEQ terms, the seller’s risks end the moment the goods have been made available at the destination port:
1) Produces the goods and commercial documents as required by the sales contract.
2) Arranges for export clearance and all export formalities.
3) Arranges and pays for all costs for the transportation of the goods up to the agreed point in the named port or wharf of destination.
4) Assumes all risk to the goods (loss or damage) until the product has been made available to the buyer at the named port and quay (wharf).
5) Seller must advise the buyer that the goods have been delivered to the carrier.
6) Seller has to provide the buyer with transport documents that will allow the buyer to take possession of the goods at the agreed point in the named port of destination.
1) Buyer must pay for the goods as per the sales contract
2) Buyer must obtain all commercial documentation, licenses, and authorizations required for import and arrange for import clearance and formalities at own risk and cost.
3) Buyer takes delivery of the goods after they have been delivered by the seller to the named quay.
4) Buyer must assume all risks for the goods from the time the goods have been made available at the quay.
5) Buyer pays for all costs of transportation, import customs formalities and duty fees, and all other formalities and charges related to the transportation of the shipment from the time the goods have been delivered to the agreed quay at destination.
6) Buyer would accept the seller’s transport documents provided they conform with the sales contract and will allow the buyer to take possession of the goods after delivery to agreed quay at destination.
This interpretation is provided as a guide only.
Incoterms are published by the International Chamber of Commerce and are available on their website and official publication “Incoterms 2000”. For a complete and official overview please refer to the ICC’s publication.