Declared Value

Declared value is the value you state on shipping and customs documents for your goods. This value serves two purposes: it determines the maximum liability a carrier has for loss or damage, and it forms the basis for customs valuation. The declared value should reflect the true transaction value of the goods—the actual price paid. Carriers and customs authorities may require supporting documentation like invoices to verify declared values.

Your declared value affects both shipping insurance coverage and import duties. If you under-declare, you may not be fully compensated for loss or damage, and you risk customs penalties. Over-declaring increases your duty liability. Accurate declaration protects you legally and financially.