{"data":{"id":"us-ky/krs-355.2-320","jurisdiction":"us-ky","citation":"KRS 355.2-320","heading":"C.I.F. and C. \u0026 F. terms.","body":"(1) The term C.I.F. means that the price includes in a lump sum the cost of the goods\nand the insurance and freight to the named destination. The term C. \u0026 F. or C.F.\nmeans that the price so includes cost and freight to the named destination.\n(2) Unless otherwise agreed and even though used only in connection with the stated\nprice and destination, the term C.I.F. destination or its equivalent requires the seller\nat his own expense and risk to\n(a) put the goods into the possession of a carrier at the port for shipment and\nobtain a negotiable bill or bills of lading covering the entire transportation to\nthe named destination; and\n(b) load the goods and obtain a receipt from the carrier (which may be contained\nin the bill of lading) showing that the freight has been paid or provided for;\nand\n(c) obtain a policy or certificate of insurance, including any war risk insurance, of\na kind and on terms then current at the port of shipment in the usual amount,\nin the currency of the contract, shown to cover the same goo ds covered by the\nbill of lading and providing for payment of loss to the order of the buyer or for\nthe account of whom it may concern; but the seller may add to the price the\namount of the premium for any such war risk insurance; and\n(d) prepare an invoice of the goods and procure any other documents required to\neffect shipment or to comply with the contract; and\n(e) forward and tender with commercial promptness all the documents in due\nform and with any indorsement necessary to perfect the buyer's rights.\n(3) Unless otherwise agreed the term C. \u0026 F. or its equivalent has the same effect and\nimposes upon the seller the same obligations and risks as a C.I.F. term except the\nobligation as to insurance.\n(4) Under the term C.I.F. or C. \u0026 F. unless otherwise  agreed the buyer must make\npayment against tender of the required documents and the seller may not tender nor\nthe buyer demand delivery of the goods in substitution for the documents.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33280","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:42Z","sha256":"26fbd4e84ce599f2ea3524ec7d15434604403146ffab3689076587d7fa38525c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.2-319","next":"us-ky/krs-355.2-321"},"notice":"GroundRules: Original legal text. Not legal advice."}