DEFINITION of 'Delivered Ex Quay - DEQ'

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."

BREAKING DOWN 'Delivered Ex Quay - DEQ'

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. The "D" (delivered") portion of the Incoterm is onerous to the seller as the seller has to bear all risks and costs until the item is duly delivered as specified.

Delivered ex quay denoted items to be delivered at a wharf, and was thus applicable to goods delivered via waterways (whether inland or sea). It could be denoted as either duty paid (where the seller was responsible for all costs such as customs duty and taxes associated with the delivery) or unpaid (where the buyer would assume these costs). Delivered ex quay was an alternative to delivered ex ship (DES). With a DES specification, the seller makes the goods available on board a ship at the destination port. DEQ changed the specification so that the goods had to be delivered to the wharf. For DEQ to be applicable, the seller would have to have an import license or otherwise be legally permitted to deliver in the destination country. All legal formalities required for transporting goods to the wharf in the destination country, including all the documentation required for the buyer to take delivery of the goods, had to be completed by the seller. The more onerous terms for a seller of such a contract would be taken on because it would be an incentive for the buyer to contract with that company.

DAQ was discontinued in the 2010 Incoterms. It has been replaced with DAT, or "delivered at terminal." DAT is a wider term than DEQ as the "terminal" referred to can be any place, whether on a waterway or a hub for another kind of transportation route.

RELATED TERMS
  1. Ex Works (EXW)

    Ex Works (EXW) is an international trade term by which a seller ...
  2. Free Carrier - FCA

    Free carrier is a trade term specifying a delivery location for ...
  3. Cost and Freight - CFR

    Cost and freight is a trade term obligating the seller to arrange ...
  4. Delivered At Frontier - DAF

    Delivered at Frontier is a contract specification requiring the ...
  5. Delivered Duty Unpaid - DDU

    Delivered Duty Unpaid is an international trade term indicating ...
  6. Seller Financing

    Seller financing refers to a real estate agreement where financing ...
Related Articles
  1. Investing

    The Ins And Outs of Seller-Financed Real Estate Deals

    There's more than one way to buy or sell a house. Seller financing presents yet another unique option.
  2. Small Business

    Letter of Credit

    A letter of credit is a document from a bank promising to pay the holder a certain amount if the holder fulfills certain obligations. Sellers in commercial transactions often require buyers to ...
  3. Insights

    Tips For Face-to-Face Buying And Selling

    Be aware of these dangers when buying or selling goods in person.
  4. Insights

    How Does Amazon Charge Taxes on Its Products? (AMZN)

    Most of the tax burdens are shouldered by retailers and individual sellers, creating hidden costs for consumers.
  5. Investing

    7 Tips for Writing a Homebuyer’s Letter to a Seller

    To win a real estate bidding war, use these seven tips for writing a homebuyer’s letter to a seller that’s engaging and personal.
  6. Personal Finance

    Hidden Costs Surprise Home Sellers: Zillow

    While rising home prices are giving sellers the upper hand in many markets, there are plenty of hidden costs involved with selling a home.
  7. Investing

    eBay Vs. Amazon Business Model

    For sellers looking to unload grandma’s things, the decision to go online is easy, but, they still must choose which site to list with: eBay or Amazon.
  8. Investing

    Home Sale Contingencies for Buyers and Sellers

    Home sale contingencies protect buyers who want to sell one home before purchasing another.
  9. Investing

    Major Companies That Lose Money On Shipping (AMZN)

    We look at some of the big companies in the home delivery business that have high shipping costs and how they mitigate this.
RELATED FAQS
  1. What are the Differences Between Ex Works (EXW) and Free On Board (FOB)?

    Although these terms are similar, responsibilities and obligations are delegated to different parties in EXW and FOB. Read Answer >>
  2. What are the costs for Free On Board (fob) shipping freights?

    Find out about free on board shipping, the obligations of parties involved, and the costs each party must assume. Learn about ... Read Answer >>
Trading Center