Declared Value in simple terms refers to the amount a sender tells the carrier their shipment is worth. If the shipment is lost or damaged during transport, the carrier is responsible for compensating the sender based on the declared value. It helps protect the sender’s interests and ensures they receive appropriate compensation for any potential loss. By stating the value upfront, both the sender and the carrier have a clear understanding of the shipment’s worth and the level of liability involved in case of unfortunate events during the delivery process.
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