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| Definition Of: |
Ad Valorem
Latin for "according to the value." 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. A freight rate set at a certain percentage of the value of an article is known as an ad valorem rate.
According to the value. An ad valorum stamp on deeds or documents is one fixed in proportion to the amount of rent reserved or other element of value expressed in the deed.
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Maritime Terms INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 A: Page 1 of 36.
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