Effective	16APR2003
Filed	16APR2003
Filing Codes	IR

A. General
   
   1. When tariff item specifies an Ad Valorem charge in
      addition to the base rate or an Ad Valorem charge
      only, such Ad Valorem charge must be assessed whether
      or not shipper elects to show the value on the Bill of
      Lading.
   
   2. On commodities for which the rate is Ad Valorem, the
      market value at place and time of shipment declared on
      the Commercial Invoice shall be used.
   
   3. In respect of all other cargo, where the shippers
      desire to be covered for a valuation in excess of the
      carrier's liability and/or elect to show value of the
      goods on the Bill of Lading, Ad Valorem charge shall
      be assessed in accordance with Clause (b) of this
      rule.
   
B. Limit of Carrier's Liability
   
   The liability of the carrier as to the value of
   shipments at the rates shown in the Common Rates Tariffs
   shall be determined in accordance with the clauses of the
   respective carrier's regular Bill of Lading form. If the
   shippers desire to be covered for valuation in excess of
   that allowed by the carrier's regular Bill of Lading
   form, the shippers must so stipulate in carrier's Bill of
   Lading covering such shipments and such additional
   liability only will be assumed to be the carrier's at the
   request of the shippers and upon payment of additional
   charge of 5.0% Ad Valorem of the total declared FOB
   valuation in addition to the stipulated rate on the
   commodities shipped as specified herein.

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