New Jersey § 12a:2-321

§ 12a:2-321.

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.