Actual Value Rate

Summary of Actual Value Rate

A freight rate applicable to certain commodities where, depending upon the actual goods, value may vary greatly. For example, the classification “scientific instruments”may embrace low-value laboratory glassware or high-value precision instruments. In such cases, the shipper must declare the actual value of the merchandise, and his freight rate will be appropriate to the value declared. Commodities subject to actual value rates are specially identified in the tariff.

(Main Author: William J. Miller)