GlossaryEN1 min readUpdated: Jun 26, 2026
Claim Settlement
Claim settlement is the formal closure of a transport damage case: the liable carrier or insurer reviews submitted documentation and calculates the indemnity payable.
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Source: https://www.investopedia.com/terms/c/claims-settlement.asp
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Definition & Explanation
Claim settlement is the formal closure of a transport damage case: the liable carrier or insurer reviews submitted documentation and calculates the indemnity payable. Key evidence typically includes survey reports, commercial invoices, bills of lading, and applicable policy terms. In international freight, liability limits under conventions such as the CMR, CIM, or Montreal Convention frequently cap compensation well below the actual loss, regardless of what the claimant submits. Settlement is complete once payment is made or a written agreement signed—after which further claims arising from the same incident are generally barred. It is distinct from the upstream claims assessment phase, which establishes the factual basis before any payment decision is reached.
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