Logistics terms · Logistics terms
What does Declared value mean in logistics?
Short answer
The value of goods that the consignor states to the carrier at booking. It sets the basis of the carrier’s liability and of any valuation charge.
Under the Carriage by Road Act regime, a carrier’s liability for undeclared goods is limited by the Rules, whereas a declared value (sometimes with a surcharge) raises it. Declared value is separate from the invoice value on the e-way bill and from insurance cover. Ask our desk how this applies to your consignment.
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The numbers behind this answer
- Category
- Contracts & pricing
- Related terms
- Carriage by Road Act, 2007, Freight claim, Goods-in-transit insurance, Lorry receipt (LR)
Related questions
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