Delivered Ex Ship (DES) is an Incoterm which states that the seller delivers the goods to the buyer at the seller's port of export. The buyer is responsible for paying the shipping costs and risks associated with transporting the goods to their destination. DES is a commonly used Incoterm in international trade, and is often used in conjunction with other Incoterms such as FOB (Free On Board) or CFR (Cost and Freight).
The main requirements of the DES Incoterm are as follows:
1. The seller must deliver the goods to the buyer at the seller's port of export.
2. The buyer is responsible for paying the shipping costs and risks associated with transporting the goods to their destination.
3. The seller is not responsible for any costs or risks associated with transporting the goods to the buyer's destination.
4. The buyer is responsible for clearing the goods for import at their destination.
What are the terms of shipments?
The terms of a shipment refer to the conditions under which goods are transported from one location to another. These terms are typically outlined in a contract between the parties involved in the shipment, and may include provisions for insurance, liability, and other risks. What does DES mean in LNG? DES stands for "Delivered ExShip". It is a term used in the liquefied natural gas (LNG) trade and refers to the delivery of LNG cargoes from the seller to the buyer, with the delivery point being at the ship's rail at the loading terminal.
What are 10 common shipping trading terms?
1. Incoterms: Incoterms are sets of international rules that dictate which party is responsible for which aspects of the shipping process.
2. Free on Board (FOB): FOB means that the seller is responsible for the cost of shipping the goods to the buyer, but the buyer is responsible for all costs and risks once the goods are on board the vessel.
3. Carriage Paid To (CPT): CPT means that the seller is responsible for the cost of shipping the goods to the buyer, and the buyer is responsible for all costs and risks once the goods are delivered to the designated place.
4. Cost and Freight (C&F): C&F means that the seller is responsible for the cost of shipping the goods to the buyer, and the buyer is responsible for the cost of insurance.
5. Carriage and Insurance Paid To (CIP): CIP means that the seller is responsible for the cost of shipping the goods to the buyer, and the buyer is responsible for the cost of insurance.
6. Delivery Duty Paid (DDP): DDP means that the seller is responsible for the cost of shipping the goods to the buyer, and the buyer is responsible for all taxes, duties, and other charges due upon delivery.
7. Free Carrier (FCA): FCA means that the seller is responsible for the cost of shipping the goods to the buyer, and the buyer is responsible for all costs and risks once the goods are delivered to the carrier.
8. Ex Works (EXW): EXW means that the buyer is responsible for all costs and risks associated with shipping the goods, from the point of origin to the destination.
9. Cost, Insurance, and Freight (CIF): CIF means that the seller is responsible for the cost of shipping the goods to the buyer, and the buyer is responsible for the cost of insurance and freight.
What is for basis delivery? The term "basis delivery" refers to the process of delivering a commodity to a specified location in order to fulfill a futures contract. The commodity is typically delivered to a warehouse or other storage facility that is approved by the exchange on which the futures contract is traded. The basis delivery process is used to ensure that the commodity is delivered to the correct location and that it meets all the specifications of the contract.
What is the difference between FOB and ex works? FOB (free on board) is a term used in international trade which specifies that the seller of goods is responsible for delivering the goods to the port of shipment, and the buyer is responsible for paying the freight and other costs associated with getting the goods from the port of shipment to their final destination.
Ex works (EXW) is a term used in international trade which specifies that the seller of goods is responsible for making the goods available at their premises, and the buyer is responsible for paying the freight and other costs associated with getting the goods from the seller's premises to their final destination.