CHAPTER V.—THE TRADE IN GREAT BRITAIN. 
(i) Some Types of Sale.— Most of the commercial terms 
common to import trades in general are in use in the imported 
meat trade, but are interpreted in a special manner. As a pre- 
liminary to a description of the trade in this country, it will be 
convenient to discuss these terms and their significance. They 
are of general application throughout the trade, but, except as 
regards ex-stall sales, they relate only to frozen goods, as chilled 
beef does not pass out of the hands of the producing and importing 
firms until that stage. 
(a) C.I.F. (Cost, Insurance and Freight)—This is frequently 
called a “forward ” sale, because the goods are sold for future 
delivery. The seller, either here or overseas, sells a certain 
quantity of frozen meat of given quality and weights, the goods 
to be shipped at a certain time, or by a named steamer, at the 
sale price cif. The price charged covers the cost of the goods, 
the freight and the insurance. When the vessel arrives, the 
seller presents to his buyer the bill of lading, freezing works’ 
certificate, and an insurance policy or certificate, which gives 
the buyer the right to apply to an insurance company in case of 
loss or damage. C.if. sales may be made before the goods are 
shipped—indeed, before the animals are killed—or at any time 
before the ship discharges her cargo. After the ship docks, 
however, it is not usual to sell c.i.f., but ¢ ex ship ”’—see later. 
When a buyer makes a c.i.f. purchase for shipment during a 
certain month, the seller informs him when the goods have been 
shipped and notifies the name of the steamer. The buyer, by 
>nquiring at the shipping company’s office, can find out when 
the ship will arrive. Frequently, goods on a ‘“ named > steamer, 
i.e., goods actually shipped, are of a higher value, or, at least, 
meet with a readier forward demand than goods scheduled for 
despatch in a named month. This is especially the case when 
supplies in the exporting country are short. and arrivals are 
nncertain. 
Some days before the docking of the vessel carrying the 
goods, the seller despatches an invoice to the buyer, so that the 
latter may make arrangements for payment. On the day of 
arrival, the seller or his representative takes up the documents 
from the bank by retiring the bill and tenders them to the buyer, 
who, after satisfying himself that they are in order, hands over 
a cheque for the full invoice amount. He then has the right of 
delivery from the ship, and, by presenting his documents to the 
shipping company, can arrange accordingly. If he wishes the 
goods to be cold stored, he will hand over his documents to the 
store he has selected; the storage company will collect the goods 
from the ship, will barge or van them to the store and pile 
them in the storage chamber. A landing account is then 
sent by the storage company to the buyer, giving the number 
and mark of the goods obtained from the shin. If these are not