§2-321. C.I.F. or C. & F.: "net landed weights"; "payment on arrival"; warranty of

Link to law: http://legislature.vermont.gov/statutes/section/09A/002/00321
Published: 2015

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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.

(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.