Glossary Discription

Declared Value for Carriage is the monetary value assigned to a shipment by the shipper and formally declared to the carrier at the time of booking or tendering goods for transportation. This declared amount establishes the maximum liability limit that the carrier assumes in the event of loss, damage, or delay during transit. The declared value directly influences freight charges, as carriers typically assess additional fees for shipments with higher declared values to account for their increased liability exposure. It is important to note that the declared value for carriage is distinct from insurance value and represents a contractual agreement between shipper and carrier rather than a comprehensive insurance policy.