Ad valorem 6
Ad valorem 6 : General. Latin for "according to the value". (1) An ad valorem duty is an import duty based on the value of an article as defined in the customs law of a particular country, rather than on weight or volume. A percentage of that value is charged, for example, 5% ad valorem.?(2) A freight rate set at a certain percentage of the value of an article is known as an ad valorem rate
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