What is Ad valorem in finance?
If a duty is ad valorem the duty varies with the price of the asset which is being transferred.
Below is an instruction that describes a task, paired with an input that provides further context. Write a response that appropriately completes the request.
### Instruction: What is Ad valorem in finance?
### Input: 
### Response: If a duty is ad valorem the duty varies with the price of the asset which is being transferred.