What is customs value ups

Declared value is an option when calculating freight charges. When you are shipping a package, you will get declared value coverage. Declared value coverage is not insurance , but it does raise the financial liability of the carrier. Depending on the shipping company that you use, the declared value might represent different things. As an example, UPS uses the declared value to establish its maximum liability in the event of loss or damage to the package.

Declared value is beneficial if you are making a one-time shipment or if you are shipping a parcel with a lower value. If you ship frequently, ship parcels with a higher value, or ship internationally, you should protect yourself with shipping insurance.

If you are shipping items such as artwork, collectible coins, valuable musical instruments, jewelry, medical supplies, pharmaceuticals, or something similar, you should make sure you get the right amount of shipping insurance. You will declare a higher value than what the carrier will cover. You should partner with a company that provides eCommerce shipping solutions that are customized to meet your needs individually.

A cookie-cutter approach cannot work for all shipping needs and all kinds of industries. Customized eCommerce shipping solutions consider if signature confirmation is required for all packages, if you have difficulty getting insurance when shipping to specific ZIP codes, and if you need higher limits.

Small fees on each package can go unnoticed. This information above is a highlight of the areas our clients have problems with, therefore refer to the UPS service guide for the full list of limitations and exclusions. In conclusion, if you are interested in learning more about lowering your UPS declared value fees contact us at Refund Retriever.

Brian Gibbs founded Refund Retriever in while running his first eBay-based business and seeing the shortcomings of other shipment auditing companies. This type of coverage is designed for artwork, antiques, film and photos, jewelry, precious metals, furs and other high-value items. UPS claims restrictions on certain items. For lost checks, phone cards, tickets, gift cards, and the like, UPS will not reimburse the value of those items — it will merely cover the cost of stopping the check or replacing the physical card.

If media, like documents, film or photographs, are lost, UPS will cover only the costs of the paper or the memory cards. And for antiques and specialty items, shippers must provide proof of value, such as an appraisal. You likely want some coverage, but paying for more coverage than you need is a waste of resources.

At the bottom of the form, is a spot to put in the total weight in pounds and ounces along with the total shipment value. The total shipment value represents the declared or customs value of the shipment.

While the declared value is the figure used by customs for figuring out tax and duty amounts, sometimes called the customs value, the insurance value may be different. When you pay for shipper's insurance, for example, the price of the insurance is based on the replacement value of the item shipped.

While you may have purchased the item at one price, to replace it may cost more or less, depending on the changes in the retail price and its availability. The declared value of goods filled out on the custom form does not provide insurance in case the item is damaged during shipping.