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§ 2321. C.I.F. or C. & F.: "net landed weights"; "payment on
arrival"; warranty of condition on arrival.
Under a contract containing a term C.I.F. or C. & F.:
(1) Where the price is based on or is to be adjusted
according to "net landed weights," "delivered weights," "out
turn" quantity or quality or the like, unless otherwise
agreed the seller must reasonably estimate the price. The
payment due on tender of the documents called for by the
contract is the amount so estimated, but after final
adjustment of the price a settlement must be made with
commercial promptness.
(2) An agreement described in paragraph (1) or any
warranty of quality or condition of the goods on arrival
places upon the seller the risk of ordinary deterioration,
shrinkage and the like in transportation but has no effect on
the place or time of identification to the contract for sale
or delivery or on the passing of the risk of loss.
(3) Unless otherwise agreed where the contract provides
for payment on or after arrival of the goods the seller must
before payment allow such preliminary inspection as is
feasible; but if the goods are lost delivery of the documents
and payment are due when the goods should have arrived.
Cross References. Section 2321 is referred to in section
2513 of this title.
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Last modified: November 27, 2007 |