CARGO VALUE Meaning and
Definition
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Cargo value refers to the monetary worth or appraisal of goods or merchandise being transported from one place to another. It is the assessed or declared financial value of the goods being shipped, typically stated on shipping documents such as bills of lading, invoices, or customs declarations. The cargo value helps determine the insurance coverage, customs duties, and taxes that may be applicable to the shipment.
The cargo value is used by various stakeholders involved in the transportation process, including shippers, freight forwarders, carriers, and insurance companies. Shippers declare the cargo value to ensure appropriate insurance coverage for potential loss, damage, or theft during transit. Freight forwarders and carriers use the cargo value to determine the transportation charges, as fees are often calculated based on a percentage of the goods' declared worth.
Customs authorities also rely on the cargo value to establish the duty and tax obligations associated with imported or exported goods. Governments often require accurate reporting of the cargo value to prevent under-declaration or smuggling attempts. In some cases, customs officials may inspect the shipment to verify the declared value matches the actual goods being transported.
Overall, cargo value serves as a vital metric in international trade, facilitating proper risk assessment, financial calculations, and regulatory compliance for shipments of goods.
Common Misspellings for CARGO VALUE
- xargo value
- vargo value
- fargo value
- dargo value
- czrgo value
- csrgo value
- cwrgo value
- cqrgo value
- caego value
- cadgo value
- cafgo value
- catgo value
- ca5go value
- ca4go value
- carfo value
- carvo value
- carbo value
- carho value
- caryo value
- carto value
Etymology of CARGO VALUE
The word "cargo" derives from the Spanish word "cargar", which means "to load" or "to carry". In the context of commerce and transportation, "cargo" refers to the goods or merchandise being transported on a ship, airplane, or other means of transportation.
The word "value" originates from the Latin word "valere", meaning "to be strong" or "to be worth". In the context of commerce, "value" refers to the monetary or worth aspect of a particular good or service.
Therefore, when combined, "cargo value" represents the worth or monetary value of the goods or merchandise being transported. It refers to the total financial value of the cargo being carried during transportation.
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