Beyond Economic Repair definition

Beyond Economic Repair means wear, tear or damage to an item of Eligible Equipment beyond economic repair.

Beyond Economic Repair or “BER” is the term applied to a part whose repair or overhaul will exceed [*]% of Boeing’s then current price for a new such replacement part.

Beyond Economic Repair or “BER”—When the cost, calculated on a Supplemental Work basis, to restore an Engine to the requirements of the Repair Specification exceeds 65% of the fair market value of a comparable Serviceable Engine.

Examples of Beyond Economic Repair in a sentence

• If Your Vehicle is deemed by Us to be Beyond Economic Repair before You have paid all monthly instalments, the outstanding premium will be deducted from any payment to Your Vehicle’s owner under this insurance.

• If We consider Your Car is Beyond Economic Repair as a result of an accident or incident covered by this insurance, subject to clause 9 below We will provide the owner of Your Car with settlement of its Market Value up to the Limit of Coverage after deducting the Excess.

• Beyond Economic RepairYour Vehicle will be considered to be Beyond Economic Repair if We conclude that the extent of any damage to Your Vehicle makes it uneconomical or unsafe to repair.

• Sometimes when the cost of the repair for the boiler is likely to be morethan the current value of your boiler, we will not be able to carry out the repair and instead declare the boiler beyond economical repair.If the boiler is under 7 years old and we deem it Beyond Economic Repair, we will be able to fit a replacement and cover the entire cost.If it is over 7 years old we will not cover the cost of a new one but we can offer you a 15% discount towards a new one.

• The Company makes periodical assessment of the PPE considering product and technological obsolescence, process change, replacement and Beyond Economic Repair (BER) and other factors and accordingly, brings down the carrying value to its current fair value less cost of disposal to recognize the impairment, if any, through Statement of profit and loss.

More Definitions of Beyond Economic Repair

Beyond Economic Repair or “BER” - When the cost, calculated on a Supplemental Work basis, to restore an Engine to the requirements of the Repair Specification [*****] of the fair market value of a comparable Serviceable Engine.

Beyond Economic Repair or “BER” is the term applied to a part whose repair or overhaul [CONFIDENTIAL PORTION OMITTED AND FILED SEPARATELY WITH THE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT].

Beyond Economic Repair means any Supported Equipment, which has come to the end of its natural service life or which is beyond economic repair. Supported Equipment shall be deemed to be Beyond Economic Repair, where: a) the cost of the required replacement to make the Supported Equipment properly functional (for the avoidance of doubt, excluding any labour costs) will exceed 50% of the current list or new replacement equipment price, as determined by SCC; b) any required spare parts or components are no longer available from the manufacturer; and/or c) any item of Supported Equipment experiences or suffers persistent or reoccurring faults or component failure, provided always that Beyond Economic Repair will be evidenced by SCC’s engineer in a written report, which will state the reason(s) why the item has become Beyond Economic Repair; Business Day means a day, other than a Saturday, Sunday or public holiday in England, when banks in London are open for business;

Beyond Economic Repair means any Equipment, which has come to the end of its natural service life or which is beyond economic repair and any Equipment shall be deemed to be Beyond Economic Repair, where (i) the cost of the required parts to make the Equipment properly functional (for the avoidance of doubt, excluding any labour costs) will exceed the current list or new replacement equipment price (as determined by SCC) and/or (ii) any required spare parts or components are no longer available from the manufacturer and/or (iii) any item of Equipment experiences or suffers persistent or reoccurring faults or component failure provided always that Beyond Economic Repair will be evidenced by SCC’s engineer in a written report which will state the reason(s) why the item has become Beyond Economic Repair and agreed by the Customer acting reasonably and in good faith;

Beyond Economic Repair means in the opinion of our approved engineer, the cost of repair is 60% of the manufacturer’s current retail price. In the event that your domestic boiler is declared beyond economic repair and is under 7 years old, we will make a contribution of £200 towards replacing it. Breakdown - means a sudden and unforeseen mechanical or electrical malfunction which results in the particular unit not working. Call Out - means a request for emergency assistance from you, even if the request is then cancelled by you. Claim Limit - means the maximum amount payable by us as stated under each section of cover, including call out charges, labour, parts and materials (including VAT), and subject to prior agreement from us. Commencement Date - means the start of the service contract as shown in the schedule. Domestic Boiler - means the central heating boiler contained within and supplying your home that is powered by natural gas from the appliance isolating valve, including all manufacturers fitted components within the boiler together with the pump, motorised valves, and thermostat. We will not cover any boiler that has an output in excess of 60kW/hr.

Beyond Economic Repair means wear, tear or damage to an item of Eligible Engine that is beyond economic repair.

Beyond Economic Repair means, in relation to a Supported Item, that it has come to the end of its natural service life as defined by the manufacturer or where (i) the cost of the required replacement with original manufacturer parts to make the Supported Item properly functional (for the avoidance of doubt, excluding any labour costs) will exceed 50% of the current list or new replacement Supported Item price; or (ii) repair requires replacement of original manufacturer parts or components which are no longer available from the manufacturer and/or any approved alternative component supplier; or (iii) a Supported Item which experiences or suffers persistent or reoccurring faults or component failure; or (iv) the electrical safety condition and operation of the Supported Item could be considered a health and safety hazard;