§ 34.1-2-323 — Form of bill of lading required in overseas shipment; "overseas"

(a) Where the contract contemplates overseas shipment and
contains a term C.I.F. or C. & F. or F.O.B. vessel, the seller
unless otherwise agreed must obtain a negotiable bill of lading
stating that the goods have been loaded on board or, in the case
of a term C.I.F. or C. & F., received for shipment.
(b) Where in a case within subsection (a) a tangible bill
of lading has been issued in a set of parts, unless otherwise
agreed if the documents are not to be sent from abroad the buyer
may demand tender of the full set, otherwise only one (1) part
of the bill of lading need be tendered. Even if the agreement
expressly requires a full set:
(i) Due tender of a single part is acceptable within
the provisions of this article on cure of improper delivery
(section 34.1-2-508(a)); and
(ii) Even though the full set is demanded, if the
documents are sent from abroad the person tendering an
incomplete set may nevertheless require payment upon furnishing
an indemnity which the buyer in good faith deems adequate.
(c) A shipment by water or by air or a contract
contemplating such shipment is "overseas" insofar as by usage of
trade or agreement it is subject to the commercial financing or
shipping practices characteristic of international deep water
commerce.