The declared value is the value of the shipment as defined by the customer. The value can range from a minimum of $.60 cents per pound up to $1,000,000. The declared value is used to establish the limit of the carrier’s liability for loss or damage to the shipment. If no value is declared, the shipment is transported under the standard basic liability of $1.25 per pound. For example, if a 10,000 lb. shipment is transported by Arpin of RI at the standard basic lability and is a total loss, the carrier would only be liable for/and the customer would only be able to recoup $12,500. (10,000 lbs. * $1.25/lb. = $12,500)