release rate

release rate
A rate charged by a carrier which is less than the regular rate but operating to release or reduce the liability of the carrier for loss of or damage to the goods in transit. Neither the marking of a bill of lading, "released," nor the making of a "release rate" will have the legal effect of releasing or reducing the liability of the carrier for loss of or damage to the goods, where no effort was made to place or fix a valuation of the goods when shipped, although the shipper understood that the "release rate" was lower when the bill of lading was marked "released." See Central of Georgia Railroad Co. v Hall, 124 Ga 322, 52 SE 679.

Ballentine's law dictionary. . 1998.

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