Okla. Stat. tit. 12A, § 12A-2-320
This is the official text of Okla. Stat. tit. 12A, § 12A-2-320, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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C.I.F. and C. and F. Terms
Official statutory text
(1) The term C.I.F. means that the price includes in a lump sum
the cost of the goods and the insurance and freight to the named
destination. The term C. and F. or C.F. means that the price so
includes cost and freight to the named destination.
(2) Unless otherwise agreed and even though used only in
connection with the stated price and destination, the term C.I.F.
destination or its equivalent requires the seller at his own expense
and risk to
(a) put the goods into the possession of a carrier at the
port for shipment and obtain a negotiable bill or bills of lading
covering 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 the
freight has been paid or provided for; and
(c) obtain a policy or certificate of insurance, including
any war risk insurance, of a kind and on terms then current at the
port of shipment in the usual amount, in the currency of the
contract, shown to cover the same goods covered by the bill of
lading and providing for payment of loss to the order of the buyer
or for the account of whom it may concern; but the seller may add to
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 202
the price the amount of the premium for any such war risk insurance;
and
(d) prepare an invoice of the goods and procure any other
documents required to effect shipment or to comply with the
contract; and
(e) forward and tender with commercial promptness all the
documents in due form and with any endorsement necessary to perfect
the buyer's rights.
(3) Unless otherwise agreed the term C. and F. or its
equivalent has the same effect and imposes upon the seller the same
obligations and risks as a C.I.F. term except the obligation as to
insurance.
(4) Under the term C.I.F. or C. and F. unless otherwise agreed
the buyer must make payment against tender of the required documents
and the seller may not tender nor the buyer demand delivery of the
goods in substitution for the documents.
the cost of the goods and the insurance and freight to the named
destination. The term C. and F. or C.F. means that the price so
includes cost and freight to the named destination.
(2) Unless otherwise agreed and even though used only in
connection with the stated price and destination, the term C.I.F.
destination or its equivalent requires the seller at his own expense
and risk to
(a) put the goods into the possession of a carrier at the
port for shipment and obtain a negotiable bill or bills of lading
covering 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 the
freight has been paid or provided for; and
(c) obtain a policy or certificate of insurance, including
any war risk insurance, of a kind and on terms then current at the
port of shipment in the usual amount, in the currency of the
contract, shown to cover the same goods covered by the bill of
lading and providing for payment of loss to the order of the buyer
or for the account of whom it may concern; but the seller may add to
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 202
the price the amount of the premium for any such war risk insurance;
and
(d) prepare an invoice of the goods and procure any other
documents required to effect shipment or to comply with the
contract; and
(e) forward and tender with commercial promptness all the
documents in due form and with any endorsement necessary to perfect
the buyer's rights.
(3) Unless otherwise agreed the term C. and F. or its
equivalent has the same effect and imposes upon the seller the same
obligations and risks as a C.I.F. term except the obligation as to
insurance.
(4) Under the term C.I.F. or C. and F. unless otherwise agreed
the buyer must make payment against tender of the required documents
and the seller may not tender nor the buyer demand delivery of the
goods in substitution for the documents.
Status: in_force · Read it on the official government site
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