Common use of Declared Value Clause in Contracts

Declared Value. The declared value refers to the value of the goods as explicitly stated by the shipper/consignor on the face of the contract of carriage (e.g., the Bill of Lading). The Carrier’s liability for any loss or damage shall not exceed the declared value or the actual market value of the goods at the time of the loss or damage, whichever is lower. MVS Canada assumes no liability for any loss or damage related to the declared value of the goods. It is the responsibility of the shipper/ consignor to declare the accurate value of the goods on the contract of carriage.