Ocean carriers are not liable for more than $500 per package where the shipper has had:

Question

Quizplus · Accepted Answer

The Carriage of Goods by Sea Act (COGSA) limits the liability of ocean carriers to $500 per package unless the shipper has indicated the nature and value of the goods on the bill of lading. This gives the carrier the ability to assess the cost of insuring against potential losses and adjust freight rates accordingly. Therefore, option B is the correct answer as it refers to the shipper's obligation to declare the value of the goods on the bill of lading.

Ocean Carriers Are Not Liable for More Than $500 Per