Delivered ex quay (DEQ),
Definition of Delivered ex quay (DEQ):
A shipping term wherein the buyer and seller agree that the seller deliver the goods to the quay at the port of destination. Since delivery is only up to the quay, the seller bears the costs and risks of bringing the goods from the warehouse to the quay. On the other hand, the buyer pays for the duties, taxes and other charges necessary for bringing the goods from the quay to the vessel.
Delivered ex quay (DEQ) was a legal term as defined by the Incoterms, the International Commercial Terms published by the International Chamber of Commerce. These terms, all with three-letter abbreviations, relate to common contractual practices in international trade and are used as standard items to define certain contract terms.
In international trade, DEQ or "delivered ex quay" was a contract specification where the seller had to deliver the goods to the wharf at the destination port. The term is now obsolete, and has been replaced with DAT, or "delivered at terminal.".
Meaning of Delivered ex quay (DEQ) & Delivered ex quay (DEQ) Definition
