Cargo Claims Adjustment Act - Provides that a claim for damages to cargo by a shipper against a carrier may include a claim for the recovery of reasonable attorney's fees unless both the carrier and shipper agree, in advance, to utilize a final claims-settling procedure created by the Interstate Commerce Commission or operated by the carrier with the approval of the Commission. Sets forth minimum standards for such claims-settling procedures.

Authorizes the Commission to require and regulate surety bonds, insurance policies, or similar devices from regulated carriers to insure that all just claims can be paid.