Ex-dock refers to a shipping term indicating that the seller is responsible for making goods available at a designated dock or port. This means the seller retains ownership of the goods until they are unloaded at the port of discharge. The selling price typically includes all associated costs, including the cost of unloading the goods from the vessel.
The term ex-dock is commonly used in international trade and shipping contracts. It is relevant in areas such as commercial law and logistics. Understanding this term is crucial for parties involved in buying and selling goods across borders, as it defines the responsibilities of the seller and buyer regarding the delivery of goods. Users can manage related documentation through legal templates available from US Legal Forms, which are drafted by qualified attorneys.
Here are a couple of examples of abatement:
Example 1: A company in the United States sells machinery to a buyer in Europe. The seller agrees to an ex-dock arrangement, meaning they will pay for the shipment and unloading of the machinery at the port in Europe. The buyer takes ownership once the machinery is unloaded.
Example 2: A local supplier sells seafood to a restaurant chain under an ex-dock agreement. The supplier is responsible for delivering the seafood to the dock, and the restaurant chain becomes the owner once the seafood is unloaded from the delivery vessel.
| Term | Definition | Key Differences |
|---|---|---|
| Ex-warehouse | The seller's responsibility ends once goods are made available at their warehouse. | Ownership transfers at the warehouse, not at the dock. |
| Free on board (FOB) | The seller's responsibility ends once goods are loaded onto the shipping vessel. | Ownership transfers at loading, not unloading. |
If you are involved in a transaction that includes an ex-dock term, ensure you understand your responsibilities regarding the unloading of goods. Review your contract carefully and consider using legal form templates from US Legal Forms to manage your documentation effectively. If your situation is complex, seeking professional legal advice may be beneficial.
Browse our library of 85,000+ state-specific legal templates.
Ex-dock means the seller is responsible for making goods available at the dock, retaining ownership until unloading is complete.