What is Quick Claims Settlement under FRV?
Your carrier may establish a quick claim settlement procedure to quickly resolve and pay claims for minor loss or damage discovered at the time of delivery. Such procedures should cover payment for less than $500 with payment made within 5 days of delivery. The process of settling and paying such claims will be left to the discretion of each TSP. However, you should note that once you receive a settlement for the items you claimed for, you may not file an additional claim for those items even if you later discovered that an item was really worth more than what you originally accepted payment for. In other words, be very careful if you accept such settlements.
