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Valuation charge calculation method from May 1 , 2004
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In line with the ICB 874 dated Apr . 1 , 2004, the change of the Valuation charge regulation will come into effect as of May . 1 , 2004 as described in 1.(1) of said ICB 874. Please be advised of how to calculate the Valuation charge with the currency exchange rate.
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Change of Valuation charge regulation
The current amounts specified in local currencies, which apply instead of SDR 17/kg to determine the assessment of the Valuation charge, shall be cancelled.
SDR 17/kg is used all over the world excluding the shipments from Rep.of Korea, Hong Kong and Argentina.( The governments of these three countries have not approved this regulation change yet.)
The Valuation chrage is applied to carriage exceeding SDR 17/kg without exception excluding the above three countries. |
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| 2. |
Valuation charge calculation method
As for the rate of exchange from 17SDR to amounts in local currencies, "IATA
Clearing House Monthly 5days rate" shall be used. This exchange
rate will be revised three times a year on Jun 01,October 01 and February 01.
The current effective conversion rate is shown as attached ICB
871 (issued on Jan . 20 , 2004) for the period to May 31.2004. ( ex."
1 USD=0.69405 SDR")
When converting from 17SDR to amounts in local currencies, round off units for Minimum Charges shown on TACT Rules 5.7.1. shall be used.
* The valuation charge for this excess value shall be 0.75% of that part of the shipper's declared value for carriage which is in excess of 17 SDR per kg. |
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Regarding the conversion rate for each country, please see our ICB 871 by clicking here. as well as attached sheet of 17SDR conversion table. |
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