1. (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. (2) Unless otherwise agreed and even though used only in connection with the stated price and destination, the

   1. (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

   2. (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
   3. (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
   4. (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.

   term C.I.F. destination or its equivalent requires the seller at his own expense and risk to

3. (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. (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.

   Oklahoma Code Comment

   There are no previous Oklahoma decisions. Except as to the provisions governing war risk insurance, this section is consistent with previous prevailing law and commercial practices. In C.I.F. shipments, the

   seller must at his expense and risk deliver the goods to the carrier, load or bear the expense of loading, prepay the freight and insurance, and obtain the customary documents. The risk of loss then passes to the buyer. C. & F. shipments are the same, except that the seller is not required to pay insurance. In both cases, payment must be made against the documents. As to war risk insurance, the cost may be charged to the buyer because of the fluctuation cost of insurance, depending upon international relations.

Laws 1961, SB 36, p. 83, §