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.

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.