Item 848 - RELEASED and DECLARED VALUES of SHIPMENTS; VALUATION CHARGES; LIMITATION of LIABILITY

Item 848 - RELEASED AND DECLARED VALUES OF SHIPMENTS; VALUATION CHARGES; LIMITATION OF LIABILITY

THIS ITEM APPLIES TO ALL SHIPMENTS TENDERED TO CARRIER. THERE ARE NO EXCEPTIONS TO THIS ITEM.

EXCEPT AS STATED BELOW, SHIPMENTS TRANSPORTED BY CARRIER ARE TRANSPORTED AT A RELEASED VALUE OF NOT MORE THAN $5.00 PER POUND PER ARTICLE, UNLESS HIGHER VALUATION CHARGES AS STATED IN THIS ITEM ARE PAID.

Carrier will transport shipments at a "released value" or a "declared value," as explained in this item. A shipment will be transported at a "released value" unless the shipper declares a higher value, called the "declared value."

Shipping goods under a "released value" limits Carrier's liability. In return for that limitation of liability, the shipper does not pay valuation charges which are assessed when a shipper uses the "declared value" service described below.

When a shipment is transported under a released value, Carrier's liability for loss of or damage to the shipment is limited to the amount at which the shipment is released.

Carrier will transport shipments at a released value of $5.00 per pound per article, and Carrier’s liability for loss of or damage to the shipment will be limited to $5.00 per pound per article, subject to the following exceptions:

(A) If rates agreed upon between Carrier and another party are discounted by (a) 20% or more on shipments rated by using Carrier’s Rate Basis Tariff T-1206 or (b) 65% or more on shipments rated by using the then currentCzar Lite tariff, then Carrier will transport shipments at a released value of $.50 (fifty cents) per pound per article, and Carrier’s liability for loss of or damage to the shipment will be limited to $.50 (fifty cents) per pound per article.

(B) If rates applicable to the shipment are on a per-skid basis, then the Carrier’s liability for loss of or damage to a particular skid will be limited to eight (8) times the rate applicable to that skid.

(C)If product is shipped in bags (a container of leather, plastic, cloth, paper, etc. capable of being closed at the mouth; pouch), then Carrier’s liability for loss of or damage to the shipment will be limited to $.50 (fifty cents) per pound per bag.

(D) On shipments not transported by Carrier, but only cross-dock service is performed at a per pallet basis, the cross-docked shipment will be subject to a released value of $ .50 (fifty cents) per pound per article.

EXAMPLES: If an article weighs 500 pounds, the Carrier's liability for loss or damage will be no more than $2,500.00 (500 x $5.00 = $2,500.00), even if the actual value of the shipment is significantly more than $2,500.00. If the same shipment were transported using the CzarLite Tariff at a discount of 75%, Carrier’s liability for loss or damage would be only $250.00 ($.50 x 500 pounds = $250.00). If a shipment transported at a skid rate consists of 10 skids, at a rate $40.00 per skid, but only one skid is damaged, the Carrier’s maximum liability for loss or damage would be $320.00 (1 skid x $40.00 x 8).

However, for an extra charge, the shipper may declare a higher value for each shipment, and the Carrier's liability for loss of or damage to that shipment will be limited to that amount, instead of the "released value" amount.

The additional charge for valuation is determined in each case by a written agreement between Carrier and the party asking for the higher valuation. A party asking for a higher valuation must contact Carrier for the applicable charges, and no valuation will be effective without a written agreement between Carrier and that party.

Any agreed-upon valuation must be stated in writing on Carrier’s bill of lading, and no valuation will be honored unless the bill of lading is marked with that valuation.