CIF Schedule Sample Clauses
The CIF Schedule clause defines the specific terms and details related to a Cost, Insurance, and Freight (CIF) arrangement in a contract. It typically outlines the responsibilities for shipping, insurance coverage, and delivery points, specifying when risk and ownership transfer from seller to buyer. For example, it may list the port of shipment, the required insurance policy, and the timeline for delivery. This clause ensures both parties have a clear understanding of their obligations and the logistics involved, thereby reducing the risk of disputes over shipping and insurance responsibilities.
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CIF Schedule i. Interim Payments. The Company agrees, and shall pay Easthampton Fifteen Thousand and NO/100 Dollars ($15,000) representing additional fees, costs and expenses the Parties reasonably anticipate will be incurred by Easthampton in the Company’s permitting process in two (2) equal payments of Seven Thousand Five Hundred Dollars ($7,500) each, made within thirty (30) days of the following milestones:
(1) The Company's receipt of provisional licenses from the CCC for an MDO; and (2) the Company receipt of any and all necessary and required permits, licenses and/or approvals required by Easthampton including a certificate of occupancy for the Property and appeal periods related the forgoing licenses and permits have expired with no appeal having been taken. These payments shall be treated as an advance on the CIF for the first year after the Opening Date. Irrespective of this interim payment, the Company shall be solely responsible for all fees, costs and expenses it incurs or may incur during any permitting process or in the operation of its business. Unless otherwise allowed by law, this payment shall be treated as an advance on the CIF for the first year after the Opening Date. Should the Company relocate to a different jurisdiction after obtaining a provisional license from the CCC the second payment detailed herein shall become immediately due and owing