The Vermont Statutes Online
Uniform Commercial Code
2-321. 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 subsection (1) of this section 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.
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.