Transit Liability Sample Clauses

The Transit Liability clause defines the responsibilities and risks associated with goods while they are being transported from one location to another. Typically, this clause specifies which party—such as the seller, buyer, or carrier—is liable for loss, damage, or theft of goods during transit, and may outline any insurance requirements or limitations of liability. Its core practical function is to allocate risk between parties during the transportation phase, ensuring clarity about who bears financial responsibility if goods are lost or damaged before reaching their destination.