Rule No. 17: DECLARATION OF VALUE AND VALUATION CHARGES

  1. DECLARATION OF VALUE
    1. The Shipper must make a declaration of value for carriage on the Air Waybill, of all shipment regardless of whether or not charges based on value are applicable. Such declaration of value cannot exceed the invoice value of new shipments or actual cash value of used shipments.
    2. A declaration of "NVD" (No Value Declared) may be made and such a declaration constitutes compliance under 17 (A) (1).
  2. APPLICATION OF VALUATION CHARGES
    1. The value per pound for applying valuation charges shall be determined by dividing the Shipper's declared value for carriage by the actual gross weight of the shipment.
    2. Valuation charges applicable to Domestic Carriage:
      1. When the Shipper's total declared value for carriage is $.50 USD per pound or less, or less than $50.00 USD per shipment, no valuation charge will be assessed.
      2. When the Shipper's total declared value for carriage is more than $50.00 USD and in excess of $.50 USD per pound, a valuation charge of $.50 USD per each $100.00 USD, or fraction thereof, will be assessed on the amount of declared value in excess of $.50 USD per pound subject to minimum charge of $10.00 USD.
      3. If no declared value (NVD) is listed on the Air Waybill or Bill of Lading, the Carrier’s cargo liability will not exceed $50.00 USD.
      4. The Carrier does not accept liability for perishable shipments.
        1. Perishable shipments are temperature controlled shipments or shipments which may be contingent upon meeting certain transit times.
      5. If no declared value (NVD) is listed on the Air Waybill or Bill of Lading for small package shipments, the cargo liability will be assessed based on the total value of the transportation charges only.
        1. Small Package Shipments are shipments below 60 lbs, with commodity code SPS.
    3. Valuation charges applicable to International Carriage.
      1. When the Shipper's total declared value for carriage is equal or less than the value of a national currency equivalent, the Carriers liability will be limited in accordance with the relevant regime’s Special Drawing Rights no valuation charge will be assessed.
      2. When the Shipper's declared value for carriage is more than the value of a national currency equivalent, the Carriers liability will be limited in accordance with the relevant regime’s Special Drawing Rights a valuation charge of $1.00 USD per each $100.00 USD, or fraction thereof, will be assessed on the amount of declared value in excess of the regime’s Special Drawing Rights per kilogram, subject to a minimum charge of $10.00 USD.
      3. If no declared value (NVD) is listed on the Air Waybill, the Carrier’s cargo liability will not exceed $50.00 USD.
      4. The Carrier does not accept liability for perishable shipments
        1. Perishable shipments are temperature controlled shipments or shipments which may be contingent upon meeting certain transit times.
      5. If no declared value (NVD) is listed on the Air Waybill or Bill of Lading for small package shipments, the Carriers cargo liability will be assessed based on the total value of the transportation charges only.
        1. Small Package Shipments are shipments below 60 lbs, with commodity code SPS.

The value of a national currency equivalent to the regime’s Special Drawing Rights  per kilogram is calculated in accordance with the method of valuation applied by the International Monetary Fund, in effect at the date of the judgment.