- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 2. Sales
- Section 321. C.I.F. or C. & F.: "Net Landed Weights"; "Payment On Arrival"; Warranty of Conditions On Arrival.
previous: Section 320
. C.I.F. and C. & F. Terms.
next: Section 322
. Delivery "Ex-Ship.".
AS 45.02.321. C.I.F. or C. & F.: "Net Landed Weights"; "Payment On Arrival"; Warranty of Conditions On Arrival.
Under a contract containing a term C.I.F. or C. & F.,
- (1) if 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 (1) of this section, or a 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, if 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.
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