standard terms and conditions with increased limit of liability

• You (the Customer) have elected to increase, the Company’s liability for the goods under the consignment agreement from the time of collection until delivery.
• The parties agree to the British International Freight Association (BIFA) Standard Trading Conditions 2021 (England) Edition save that those Conditions shall be deemed adjusted to allow for the Company’s liability to be increased subject to payment of the additional charges notified and the further terms and exclusions below.

Definitions:-

• Goods – Any item of Fine Art or the like that has been consigned into our care in accordance with your instructions.
• Maximum Limit – The value of repair / restoration or replacement or whichever is the lesser, as a result of any Damage or loss to the Goods up to the Declared Value.
• Declared Value – An up to date and accurate valuation of the goods to be shipped at their current market value.

Cover

Regency Shipping Ltd liability shall be limited to the Physical Loss or Damage of the Goods being moved and up to a Maximum Limit of the Declared Value of the item by you.

Please note that if you (the customer) do not provide a Declared Value or do not accept the Company’s proposed increased limit of liability at the increased charge, the Company’s liability is the standard amount as set out in the British International Freight Association (BIFA) Standard Trading Conditions 2021 (England) Edition.

Terms and exclusions:

The Company’s liability shall be capped at the lower of the declared value or the market value.

The Company shall have no liability for:

• Loss of market, delay, loss of use, or any consequential loss;
• Any loss, damage, liability or expense directly or indirectly caused by or contributed to by or arising from the use or operation, as a means for inflicting harm, of any computer, computer system, computer software programme, malicious code, computer virus or process or any other electronic system.
• Fines or penalties imposed by any court or public authority;

• Breakage of picture glass; but damage done by such broken glass to the property hereby insured is covered hereunder.
• Wear, tear, gradual deterioration, inherent defect or any pre-existing condition of the item consigned;
• Damage caused by moths, insects or vermin;
• Any loss or damage caused by or resulting from work done in the course of any refinishing, renovating, repairing, restoring, reframing or similar process;
• Loss, damage or expense attributable to the wilful misconduct of you or your employees / sub-contractors or agents acting on your behalf.
• Mechanical or electronic derangement unless the loss or damage arises as a direct consequence of a peril not excluded in these Terms and Exclusions;
• Loss, damage or expense attributable to any act of terrorism regardless of any other cause or event contributing concurrently or in any other sequence to the loss;
• Loss, damage or expense attributable to war, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, insurrection, military or usurped power or confiscation or nationalization or requisition or destruction of or damage to property by or under the order of any government or public or local authority;
• Loss, damage or expense attributable to ionising radiation, radioactivity, toxic, explosive or other hazardous or contaminating properties of any nuclear installation, or radioactive matter, any chemical, biological, bio-chemical, or electromagnetic weapon.
• Loss, damage or expense attributable to a communicable disease or the fear or threat (whether actual or perceived) of a communicable disease.
• Loss damage liability or expense arising from the outbreak of war (whether there be a declaration of war or not) between any of the following: United Kingdom, United States of America, France, the Russian Federation, the People’s Republic of China.
• Loss, damage or expense whilst in the due course of transit in Ukraine, Russia, Belarus and Crimea (Including Sevastopol), Luhansk and Donetsk