Declared Value for Carriage
A declared value for carriage is the value of the goods, declared by the shipper on a bill of lading, for the purpose of determining a freight rate or the limit of the carrier’s liability.
This value is important because it impacts both the price that the shipper pays for shipping services, as well as the level of liability that the shipping company assumes in case of loss or damage to the shipment.
- If a shipper declares a high value for their goods, they will likely pay a higher freight rate.
- However, if those same goods are lost or damaged in transit, the shipping company will be liable for a higher amount since they were aware of the increased value.
When declaring a value for carriage, it is important to accurately declare the replacement value of the goods being shipped.
What is a declared value for carriage?
What is a Declared value for carriage? Definition and meaning
What is a DECLARED VALUE FOR CARRIAGE? definition of DECLARED VALUE FOR CARRIAGE (Black’s Law Dictionary)
Declared Value for Carriage Law and Legal Definition – USLegal, Inc.
Declared Value for Carriage Definition – Operations & Supply Chain Dictionary