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c. Transactions Between Petitioner and NUF
Beginning in January 1984, petitioner transferred excess
value amounts billed to its regular shippers and collected from
other shippers, net of claims paid in excess of $100, to NUF on a
monthly basis. Petitioner did not receive reimbursement or
compensation from NUF for generating, billing, and collecting
EVC's or for processing the excess value claims.
In 1984, petitioner began preparing a "bordereau" statement
which summarizes, by State, the units of excess value purchased
by shippers and the claims in excess of $100 paid to petitioner's
shippers. The bordereau statement reflects total amounts
transferred by petitioner to NUF during 1984 as follows:
Month Gross Premium Claims Paid Net Premium
Jan. $6,441,266.73 $67,764.74 $6,373,501.99
Feb. 8,872,879.29 493,372.97 8,379,506.32
Mar. 8,204,394.80 1,152,402.35 7,051,992.45
Apr. 7,543,896.37 1,537,670.65 6,006,225.72
May 7,564,372.78 1,945,900.71 5,618,472.07
June 9,287,618.30 2,086,223.87 7,201,394.43
July 6,999,418.50 1,970,519.97 5,028,898.53
Aug. 9,998,146.19 2,367,289.23 7,630,856.96
Sept. 8,034,914.33 2,098,262.38 5,936,651.95
Oct. 8,522,263.90 2,887,865.46 5,634,398.44
Nov. 10,600,501.16 2,922,216.00 7,678,285.16
Dec. 7,725,117.32 2,554,523.60 5,170,593.72
Total 99,794,789.67 22,084,011.93 77,710,777.74
The category "Net Premium" represents EVC's billed to
petitioner's regular customers and collected from other shippers
from each of the States and the District of Columbia, less claims
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