Liability of Warehouseman for shortage or excess in goods deposited

18. (1) The warehouseman shall be liable to pay compensation determined in the manner prescribed to the depositor for any loss sustained by him by reason of the goods having lost weight or bulk in excess of the <b>¹</b>[limits fixed by the licensing authority] owing to shrinkage or driage or by reason of deterioration in the quality of the goods owing to their having gained weight or bulk in excess. of the <b>¹</b>[limits fixed by the licensing authority] by the absorption of moisture.<br> <b>²</b>[(2) Any dispute arising as to whether loss or gain in weight or bulk in excess of the limit fixed by the licensing authority is due to driage or absorption of moisture or is due to other causes beyond the control of the warehouseman, shall be referred to the licensing authority and such dispute shall, unless the parties express in writing their desire to refer it to the Board of Arbitrators appointed under section 29, when it shall be so referred, be decided by the licensing authority and the decision of the Licensing Authority shall be d and binding on the parties.]<br>