554.2321 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 theseller must reasonably estimate the price. The payment due on tender of the documentscalled for by the contract is the amount so estimated, but after final adjustment of the price asettlement 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 thelike in transportation but has no effect on the place or time of identification to the contractfor 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; butif the goods are lost delivery of the documents and payment are due when the goods shouldhave arrived. of the goods the seller must before payment allow such preliminary inspection as is feasible; butif the goods are lost delivery of the documents and payment are due when the goods shouldhave arrived. [C66, 71, 73, 75, 77, 79, 81, §554.2321]Referred to in §554.2513 Sat Dec 23 01:49:49 2023 Iowa Code 2024, Section 554.2321 (24, 0)
Iowa Legal Code