I was doing some research tonight for a meeting with a client on Tuesday. Came across some revisions in the NMFC regarding shipping engines with LTL trucking companies, thought I would pass them along.
In a nutshell, you are now able to recover more for a lost or damaged USED engine than you could have in the past. Your rebuilt engine can now be shipped for it's full value with 3 pricing tiers based on actual or declared value.
Some details:
In the past used engines have had an agreed upon release value of 10 cents/lb and shipped as class 70 or 85 depending on packaging configuration.
New engines had a maximum value of $25/lb.
There was some subjective verbiage regarding rebuilt versus reconditioned.
The latest revisions give those shipping engines a few choices:
1: used engines ship under item 127090 and have "core value only" rates are Class 70
2: rebuilt/reconditioned engines shipped as item 120800-4 have a released value*** not exceeding $5/LB. Rates are based on Class 85
3: rebuilt/reconditioned engines shipped as item 1208004-7 have a released value not exceeding $10/LB. Rated as Class 100
4: rebuilt/reconditioned engines are shipped as item 1208004-8 when a release value is not stated. They will be rated as Class 150.
*** A release value is a value that the shipper states on the bill of lading. This value limits the carriers liability in the event of loss or damage. The following must be stated on the bill of lading or engines will be rated as Class 150:.
"The agreed or declared value of the property is hereby specifically stated by the shipper to be not exceeding _______ per pound for each article."