1) Statutory Obligations:

The carrier Cy's agrees to transport the property described on the front of this bill of lading subject to the Public Commercial Vehicles Act (Ontario) and applicable law, except as hereinafter provided, and in accordance with the rules and regulations published in Cy's Tariff of Tolls in effect on the date hereof to which Shipper assents and as evidence thereof accepts this receipt.

2) Allocation of Risk of Loss to Shipper:

Cy's is not an insurer. The amount charged by Cy's is for carriage only and is based on Shipper’s acceptance of ALL THE RISKS arising from any delay, theft, loss of or damage to the goods or documents carried under this Bill of Lading. In particular, Shipper accepts the risk that Shipper will not be able in any circumstances ( including circumstances where Cy's, it’s employees or agents are negligent ) to impose on Cy's or it’s employees any losses that may arise from any delay, theft, loss of or damage to the goods or documents covered by this Bill of Lading.

3) Limited Acceptance of Risk of Loss by Cy's:

Subject to clause 4, if Shipper (i) notifies Cy's in writing of the value of the goods or documents to be carried and requests Cy's to accept part of the risk delay, theft, loss or damage, and (ii ) before any Bill of Lading is signed, obtains Cy's written consent to accept such liability, and ( iii ) Shipper pays the appropriate charges for such shipment ( including applicable insurance premiums, if any ), Cy's will bear the specified risks.)

4) Limitation of Liability:

Cy's must be told of any loss damage or claim within 24 hours and must receive written notice of the loss, damage or claim within thirty days of it’s discovery. In any event ( and notwithstanding the assumption of the risk of loss by Cy's under clause 3 ), Cy's will not be liable for losses of revenue or profits, losses arising from where goods or documents are, for any reason, unavailable for use, delayed, damaged, destroyed, lost or stolen, damages to which Shipper may be exposed to claims for compensation for economic loss from it’s employees, customers, clients, or other parties in contractual or economic relations with the Shipper, or any special consequential or other indirect damages or any costs or expenses incurred with respect to any such losses or claims.

5) Declared Value of Shipments:

Except where Shipper declares value and Cy's accepts liability under clause 3, Shipper and Cy's agree that the declared value of the goods or documents to be carried shall be the lesser of $1.50 per pound and $50.00, and Cy's will reimburse Shipper for the lesser of $1.50 per pound and $50.00 in the event of any loss, damage or theft.