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There is a drain plug. It is located in the sump that is in the rear starboard side. The sump is about 1 foot square and there should be a hinged wood cover over it. The drain plug fits into the tube from the inside of the sump, and the tube goes all the way through the hull to the bottom of the boat. A clamshell type cover is located over the exit of the tube on the bottom of the boat, and it can get plugged easily if you allow too much debris to pass through the drain tube at once.

Congratulations on your new boat, and happy whalerin' :)