RULE NO. 17: DECLARATION OF VALUE AND VALUATION CHARGES:

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).

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 per pound or less, or less than $50.00 per shipment, no valuation charge will be assessed.
  2. When the shipper’s total declared value for carriage is more than $50.00 and in excess of $.50 per pound, a valuation charge of $.50 per each $100.00, or fraction thereof, will be assessed on the amount of declared value in excess of $.50 per pound subject to minimum charge of $10.00.
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 to 17 Special Drawing Rights per kilogram, 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 to 17 Special Drawing Rights per kilogram, a valuation charge of $1.00 per each $100.00, or fraction thereof, will be assessed on the amount of declared value in excess of 17 Special Drawing Rights per kilogram, subject to a minimum charge of $10.00.
  The value of a national currency equivalent to 17 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.