In this work, the ligand exchange reaction between indium carboxylate ligands and zinc chloride on the surface of indium phosphide quantum dots was studied. Two size series of indium phosphide quantum dots, capped with either myristate and stearate ligand shells, were synthesized and monitored by isothermal titration calorimetry and quantitative 1 H NMR as zinc chloride was titrated into the solution of quantum dots. In the experimentally proposed reaction mechanism, the native surface ligand, either indium myristate (In(C14H27O2)3) or indium stearate (In(C18H35O2)3), is displaced from the nanocrystal surface by zinc chloride in a Z-type ligand exchange. This exchange reaction can modestly improve the quantum yield and is relatively easy to perform, compared to techniques such as hydrofluoric etching or inorganic shelling. A modified Ising model analysis determined that with decreasing curvature, inter-ligand interactions between tail groups increased. Additionally, nanocrystals with stearate ligand shells exhibited increased ordering of surface ligands, compared to myristate capped particles, and required the use of a phase transition term in models. Powder and solution X-ray diffraction measurements were utilized to observe these effects and showed ordered coordinating ligands on quantum dots in both the dry and solution state.