Carriage of Goods by Sea Act (COGSA) of 1936
Incorporated by reference in every bill of lading for the foreign transport
of goods to or from the United States, this Act contains a laundry list of 17
causes of loss for which the carrier or vessel is not liable as long as the
carrier exercised reasonable steps to make the ship seaworthy and to handle/stow
goods responsibly. COGSA also limits liability to $500 per package or customary
freight unit (CFU) unless another amount is specifically mentioned in the bill
of lading. That amount, however, can never be greater than the actual loss incurred.