Florida Statute 672.320 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 672
UNIFORM COMMERCIAL CODE: SALES

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F.S. 672.320

672.320 “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 or her 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.

History.—s. 1, ch. 65-254; s. 569, ch. 97-102.

Note.—s. 2-320, U.C.C.

F.S. 672.320 on Google Scholar

F.S. 672.320 on Casetext

Amendments to 672.320

Arrestable Offenses / Crimes under Fla. Stat. 672.320

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 672.320.

Annotations, Discussions, Cases:

Cases Citing Statute 672.320

Total Results: 3

Kumar Corp. v. Nopal Lines, Ltd.

Court: Fla. Dist. Ct. App. | Date Filed: 1985-01-15T00:00:00-08:00

Citation: 462 So. 2d 1178

Snippet: position is, as it was below, that under Section 672.320, Florida Statutes (1981), the term C.I.F., or its…240 So.2d 847 (Fla. 3d DCA 1970). [2] Section 672.320(2), Florida Statutes (1981), provides: "(…must fulfill as part of a C.I.F. contract. See § 672.320(2)(c), Fla. Stat. (1981). While parties are allowed

P. Q. Beef Processors, Inc. v. Puerto Rico Marine Management, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 1980-12-02T00:00:00-08:00

Citation: 390 So. 2d 796

Snippet: Mutual Ins. Co., 474 F.2d 8 (5th Cir. 1973); § 672.320, Fla.Stat. (1979); see, Sig M. Glukstad, Inc. v

Pestana v. Karinol Corp.

Court: Fla. Dist. Ct. App. | Date Filed: 1979-02-26T23:53:00-08:00

Citation: 367 So. 2d 1096

Snippet: terms contained in the contract. See §§ 672.319, 672.320, Fla. Stat.(1977). A 25% downpayment on the purchase