Common use of LIMITATION ON SHIPPER’S RECOVERABLE DAMAGES Clause in Contracts

LIMITATION ON SHIPPER’S RECOVERABLE DAMAGES. Xxxxxxx understands that even if xxxxxxx’s property is lost, stolen, or damaged, Xxxxxxx does not pay replacement or restoration cost of any property. XXXXXXX’X MAXIMUM LIABILITY SHALL BE THE AMOUNT OF PROVEN ACTUAL VALUE NOT EX- CEEDING THE LOWER OF FAIR MARKET VALUE. Even if Xxxxxxx has made a declaration of value, liability shall never exceed the depreciated original invoice value or the fair market value of the property, whichever is less. The value per pound for applying declared valuation charges shall be determined by dividing Shipper’s declared value for carriage by the actual weight of the shipment. In all cases not prohibited by law, where a lower value than the actual value of the said property has been stated in writing by Xxxxxxx or has been agreed upon in writing as the released value of the property upon which the rate is based, such lower value plus freight charges, if paid, shall be the maximum recoverable amount for loss or damage. Notwithstanding the above limitations, all shipments containing the following items of extraordinary value are limited to a maximum declared value of