FIATA Model Rules Section 8.2.
Assessment of compensation
The value of the Goods shall be determined according to the current commodity exchange price or, if there is not such price, according to the current market price or, if there is no commodity exchange price or current market price, by reference to the normal value of the Goods of the same kind and quality.
Peter Jones' Commentary:
See also BIFA 27 (i0: the value of the goods the subject of the relevant transaction shall be their value when they were or should have been shipped.
Peter Jones' Commentary:
See also BIFA 27 (i0: the value of the goods the subject of the relevant transaction shall be their value when they were or should have been shipped.