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Ad Valorem

Bible DictionaryThe 'Lectric Law Library
Lat. According to the value. This term is used in commerce in reference to certain duties, called ad valorem duties, which are levied on commodities at certain rates per centum on their value.
 
DUTY, AD VALOREM - An assessed amount at a certain percentage rate on the monetary value of an import.
Courtesy of the 'Lectric Law Library.

 

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