What is the declared value?
The declared value is the value of the content of the shipment, which is published by the sender, the owner or the authorized agent. Carriers can set the basic value limits that reduce their liability if customers expressly declare higher value. If shipments are lost, stolen or damaged, the sender's compensation obligations are based on the value. It can also play a role in tariffs and other customs fees as well as transport insurance. In some cases, nations may refuse to enter packages above a certain value without prior arrangement. For insurance purposes, they may also consider the costs associated with exchange, including the costs of delay when the products do not come in time. For some items, this process may be simple because the item may be something purchased and sold in an open market that can be easily replaced. The artwork of other unique items may require special awards.
The carrier will only accept the liability for the declared value of the package. If the owner or sender does not declare a value, it will use the default liability limits. In case of loss, theft and other problems, customers can receive compensation up to these limits. For higher value packages, a statement is required and people may have to pay extra for insurance and special handling. Refusing a statement of value can save money for these expenses, but makes it difficult if something happens.
The values can be written on the shipment package so that this information is available to service staff. Insured packages can carry special badges to alert carriers and operators who may have to search packages in transit to create a tracking record. Such packages are treated with special care to reduce the risk of responsibility and entertain that in the event of a problem, the shipment path can be traced. For example, a company can find that the package has disappeared between two tcontrol centers, which helps them determine possible placement and determine what happened.
on the domestic market, a declared value usually does not create transport problems. However, this may be an internationally problem. Packages above a certain value can be processed differently at the customs offices. Recipients may be charged a higher fee and in some cases the package may be rejected. Before filling in the declared value, it is often wise to check the principles to reduce the risk that the package will be murdered in transit.