Ad Valorem Rates

1. The liability of the carrier as to the value of shipment at the rates herein provided shall be determined in accordance with the clauses of the carrier's regular bill of lading form.

2. If the shipper desires to be covered for a valuation in excess of that allowed by the carrier's regular bill of lading form, the shipper must so stipulate in carrier's bill of lading covering such shipments and such additional liability only will be assumed by the carrier at the request of the shipper and upon payment of an additional charge based on the total declared valuation in addition to the stipulated rates applying on the commodities shipped as specified herein.

3. Where value declared on any piece or package in excess of the bill of lading limit of value $500.00, the Ad Valorem rate, specifically provided against the item, shall be three and three quarters per cent (3 3/4%) of the value declared in excess of the said bill of lading limit of value and is in addition to the base rate.

(effective: 08/01/2003)