Common use of Higher Valuation Clause in Contracts

Higher Valuation. Inasmuch as truckers, carriers, warehousemen, and other third parties to whom Goods are entrusted usually limit their liability for loss or damage unless a higher value is declared and a charge based on such higher value is agreed to by said third party, GAC must receive specific written instructions from the Customer to pay such higher charge based on valuation and the third party must accept such higher declared value; otherwise, the valuation place by the Customer on the Goods shall be considered solely for export or customs purposes and the Goods will be delivered / tendered to the third party subject to the terms of the third party’s limitations of liability and/or these Standard Terms and Conditions of Service.