2006 New York Code - C. I. F. And C. & F. Terms.

 
  Section 2--320. C. I. F. and C. & F. Terms.
    (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. & 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 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 indorsement necessary to
             perfect the buyer's rights.
    (3) Unless otherwise agreed the term C. & 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. & 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.