1. Where the item carried is perished or damaged and its value is not indicated in the bill of lading, the indemnity shall be determined on the basis of its real value at the venue and time of arrival, unless otherwise stipulated by law or agreement. Save in case of total destruction, the indemnity shall be determined taking into account the tolerable loss permitted according to the customary practices. 2. Where the value of the item carried is indicated in the bill of lading, the carrier may object to the same and prove, by all means of evidence, the real value of the item. 3. Apart from fraud and gross fault committed by the carrier or its subordinates, the carrier shall not be held accountable for the loss of the item entrusted to it for carriage, including money, commercial papers, jewelries or any other precious items, except to the extent of the express written particulars provided by the consignor at the time of delivering the item for carriage.
Interpretation and application must be checked against the official text and current version.