Liabilities and Statute Sample Clauses

Liabilities and Statute. This agreement is governed by each party’s limits of liability as stipulated in each party’s House Bills of Lading. When one of the agreement parties is acting as carrier, following are the acceptable statutes under which a party to this agreement may refer to in their House Bills of Lading; Two parties shall bear the liability for the financial losses caused by both parties’ agent, branch offices, affiliates and subsidiaries within the Geographic Scope in accordance with Article 2 (2.2) acting within the scope of their employment o Hague/Visby Rules: (Where ratified) limiting carrier’s liability per package. o Carriage of Goods by Sea Act (COGSA) governing transport between the US and Europe, limiting carrier’s liability not to exceed $ 500.00 USD per package or customary freight unit. o Standard FIATA Terms and Conditions limiting the carrier’s liability to 666.67 SDR per package or 2 SDR per kilogram whichever produces the greater revenue.