Risk Surcharge
What is risk surcharge?
Risk surcharge is a provision designed for the benefit of customers to protect against transit risks when goods are not insured by the consignor. Customers can opt for this provision by paying stipulated risk coverage charges. Please note that this is not an insurance policy but a limited liability coverage provided by the company, subject to the terms and conditions outlined below.
Applicability of Risk Surcharge
Risk surcharge is applicable to all Premium Express Products and consignments booked under D, V, and W series. However, consignments booked under the ‘Mentioned Piece’ category will only have Mentioned Piece charges covering the risk.
Key Points
- Maximum shipment value is restricted to ₹25,000 per consignment.
- COD/TO PAY/Mentioned Piece/D Series: Maximum shipment value is ₹50,000 per consignment.
- Consignments under “F” and Regional series have limited liability of ₹100 per consignment.
- Valuable shipments should be booked under ‘Mentioned Piece’ or D series, with either a valid insurance cover by the consignor or risk surcharge coverage up to the defined limit.
- For shipment values exceeding the maximum limit, insurance coverage by the consignor is mandatory.
- If the risk coverage is through the consignor's insurance, a COF charge of 0.2% of the declared value will apply.
- Without risk surcharge or consignor's insurance, the liability for loss or damage is limited to ₹500 or the declared value of the Mentioned Piece (whichever is lower).
- Consignments under VAS and D series must include all required documents like invoices and tax forms. Failure to comply will void all liability clauses.
- Consequential losses of any kind will not be considered.
Note: Risk surcharge is applicable only if the stipulated charges are paid by either the consignor or consignee.
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