A.
Claims May be settled at origin or at destination of the shipment. When settling at origin, normally there is no need to make any conversion as you are paying with the currency used at origin. If under any abnormal circumstances, you need to convert a currency for origin settlement, you will use the Banker?fs telegraphic transfer buying rate (TTB) applicable on the date of issuance of that AWB for settlement of cargo claims. When settling claims at destination, there will be a need to convert into local currency. The Banker?fs telegraphic transfer selling rate of exchange (TTS) used for calculating settlement of air freight charge collect shipments is used. Even if the shipment was a prepaid shipment, you will use the banker?fs TTS rate applicable on the arrival date of that particular shipment. Refer to TACT rules 5.5 to find out the applicable TTS rate for each country.