risk of loss

Definition of "risk of loss"
  1. The obligation a carrier, borrower, or user carries, or an insurer may cover, concerning damage or loss to property or goods
How to use "risk of loss" in a sentence
  1. The shipping company assumed the risk of loss when transporting the valuable artwork.
  2. In the loan agreement, the borrower assumed the risk of loss for the equipment loaned to him.
  3. The car rental company transferred the risk of loss to the customer upon signing the rental agreement.
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