declared value
Officially announced amount
Declared value is the monetary worth a shipper assigns to a package or shipment, typically for insurance and liability purposes: The declared value was $500, so that's the maximum the carrier will pay if it's lost.
Customs forms require declared value for international shipments to calculate duties and taxes.
Shippers sometimes understate declared value to reduce fees, though this limits compensation for damage or loss.
- customsTraditional practices or import taxes
- insuranceContractual risk coverage
- appraisalEstimation of worth
- shipmentGoods being transported
- invoiceItemized billing statement
bill of lading · parcel · worth · estimate · assessment · cargo · liability · coverage · insurance claim · total loss · claim · loss · replacement · shipping · shipping label · freight · air freight · package
declared valueappraised value
Expert's price estimate
assessed value · market value · fair market value · actual value · real value
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