LIABILITY OF CARRIERS UNDER RECEIPTS AND BILLS OF LADING.

SEC. 4207. LIABILITY OF CARRIERS UNDER RECEIPTS AND BILLS OF LADING. Section 14706(f) of title 49, United States Code, is amended—(1) by striking “A carrier” and inserting the following:“(1) In general.—A carrier”; and(2) by adding at the end the following:“(2) Full value protection obligation.—Unless the carrier receives a waiver in writing under paragraph (3), a carrier’s maximum liability for household goods that are lost, damaged, destroyed, or otherwise not delivered to the final destination is an amount equal to the replacement value of such goods, subject to a maximum amount equal to the declared value of the shipment and to rules issued by the Surface Transportation Board and applicable tariffs.“(3) Application of rates.—The released rates established by the Board under paragraph (1) (commonly known as ‘released rates’) shall not apply to the transportation of household goods by a carrier unless the liability of the carrier for the full value of such household goods under paragraph (2) is waived, in writing, by the shipper.”.