An ad valorem equivalent of a specific duty calculated from the unit value of imports from an individual country. An AVE can be global (applying to all countries entitled to the duty) or bilateral.

Limits on the value or quantity of a good which can be imported from or exported to a given partner or group of partners.

GATT Article II provides that signatories may "bind" tariff rates by including them in schedules annexed to the General Agreement. Once a duty is bound, it may not be raised above that bound level without compensating affected parties. If the actually applied rate is lower than the bound rate, the bound level of the duty rate is called a "ceiling" binding (see Ceiling Binding).   If the binding does not cover all products in the tariff item the binding is "partial" and identified by "ex" in the GATT Schedules.

See BINDING.