2006 New York Code - C. I. F. Or C. & F.

 
  Section 2--321. C.  I.  F. or C. & F.: "Net Landed Weights"; "Payment on
                    Arrival"; Warranty of Condition on Arrival.
    Under a contract containing a term C. I. F. or C. & F.
    (1) Where 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  subsection  (1)  or  any  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 where 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.