400.2-320. C.I.F. and C.&F. terms.

MISSOURI STATUTES AND CODES

400.2-320. C.I.F. and C.&F. terms.

C.I.F. and C.&F. terms.

400.2-320. (1) The term "C.I.F." means that the priceincludes in a lump sum the cost of the goods and the insuranceand freight to the named destination. The term "C.&F." or "C.F."means that the price so includes cost and freight to the nameddestination.

(2) Unless otherwise agreed and even though used only inconnection with the stated price and destination, the term C.I.F.destination or its equivalent requires the seller at his ownexpense and risk to

(a) put the goods into the possession of a carrier at theport for shipment and obtain a negotiable bill or bills of ladingcovering the entire transportation to the named destination; and

(b) load the goods and obtain a receipt from the carrier(which may be contained in the bill of lading) showing that thefreight has been paid or provided for; and

(c) obtain a policy or certificate of insurance, includingany war risk insurance, of a kind and on terms then current atthe port of shipment in the usual amount, in the currency of thecontract, shown to cover the same goods covered by the bill oflading and providing for payment of loss to the order of thebuyer or for the account of whom it may concern; but the sellermay add to the price the amount of the premium for any such warrisk insurance; and

(d) prepare an invoice of the goods and procure any otherdocuments required to effect shipment or to comply with thecontract; and

(e) forward and tender with commercial promptness all thedocuments in due form and with any endorsement necessary toperfect the buyer's rights.

(3) Unless otherwise agreed the term C.&F. or its equivalenthas the same effect and imposes upon the seller the sameobligations and risks as a C.I.F. term except the obligation asto insurance.

(4) Under the term C.I.F. or C.&F. unless otherwise agreedthe buyer must make payment against tender of the requireddocuments and the seller may not tender nor the buyer demanddelivery of the goods in substitution for the documents.