declared sum
[/dɪˈklɛrd sʌm/]
nounpl: declared sums
valor declarado
1. An amount of money or value that has been officially stated or reported, particularly in legal, financial, or insurance contexts
The declared sum on the insurance policy was $50,000.
O valor declarado na apólice de seguro era de $50.000.
2. The amount that a person or entity claims to possess or declares for customs, tax, or official purposes
He had to report the declared sum of his assets to the tax authority.
Ele teve que informar o valor declarado de seus bens à autoridade fiscal.
3. In shipping and customs, the stated monetary value of goods being transported or imported
The customs officer checked if the declared sum matched the invoice amount.
O oficial de alfândega verificou se o valor declarado correspondia ao valor da fatura.
This term is widely used in Brazilian and Portuguese business, insurance, and customs documentation. In Brazil, accurate declared sums are crucial for avoiding tax penalties and customs delays. The term is essential in international commerce and insurance claims, where transparency regarding declared values protects both parties legally.
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