Common use of Higher Value Clause in Contracts

Higher Value. Charterer may declare a higher value for the cargo than the foregoing, in which event such declaration must be inserted by Charterer on the face hereof and Charterer must pay to Carrier seventy five cents ($.75) for each one hundred dollars ($100) or fraction thereof value declared. In the event of such declaration of higher value and loss, damage or other failure to deliver such cargo, ▇▇▇▇▇▇▇'s liability for such loss or damage shall be limited to the declared value or the actual loss or damage with respect to said cargo, whichever is less.

Higher Value. Charterer may declare a higher value for the cargo than the foregoing, in which event such declaration must be inserted by Charterer on the face hereof and Charterer must pay to Carrier seventy five cents ($.75) for each one hundred dollars ($100) or fraction thereof value declared. In the event of such declaration of higher value and loss, damage or other failure to deliver such cargo, ▇▇▇▇▇▇▇Carrier's liability for such loss or damage shall be limited to the declared value or the actual loss or damage with respect to said cargo, whichever is less.