Cost of Reproduction New definition

Cost of Reproduction New means the estimated amount required to reproduce the entire property at one time, in like kind and materials, in accordance with current market prices for materials, labor, manufactured equipment, contractor’s overhead and profit, and fees, but without provision for overtime, bonuses for labor, and premiums for materials or equipment. Cost of Reproduction New, as defined, is synonymous with the insurance industry term “Replacement Cost.”
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Examples of Cost of Reproduction New in a sentence

  • PURPOSE AND DATE OF APPRAISALOur services have been requested for the purpose of developing an estimate of the Cost of Reproduction New (CRN) and Cost of Reproduction New Less Depreciation (CRNLD) of the specified property, to assist with the placement of property insurance coverage.The effective date of the appraisal will be as at the last day of our site inspection.

  • The greater of the sum of $250.00 each or a sum computed at the rate of $0.45 for every $1,000.00 of Cost of Reproduction New, for each newly constructed, acquired, recosted, or revised asset due to renovations or additions being completed to existing Building Construction and Services assets, Yard Improvements, Building Codes and Bylaws, and Demolition and Debris Removal Costs.

  • Development of Cost of Reproduction New Less DepreciationThe Cost of Reproduction New Less Depreciation (CRNLD) will be based on the Cost of Reproduction New (CRN) of the assets, less accrued depreciation considered for insurance purposes resulting from physical deterioration and functional obsolescence.

  • A sum computed at the rate of $5.00 per $1,000.00 of Cost of Reproduction New on newly acquired or transferred Furnishings and Equipment assets to existing, newly constructed, or acquired Building Construction and Services assets.

  • A report of updated insurable values will include a new appraisal summary reflecting the current Cost of Reproduction New and Sound Insurable Value of the buildings and equipment.

  • According to the OCA, this amount is calculated from Mr. Walker’s assumptions within his DCF and Cost of Reproduction New analysis.

  • Cost of Reproduction New of Stickley Workshops Prepared by The American Appraisal Co., June 1, 19143.

  • Cost of Reproduction New Less Depreciation (CRNLD) which is based on the CRN, as defined, less an allowance for accrued depreciation as evidenced by observed conditions in comparison with new property of like kind, with consideration for physical deterioration and functional and economic factors deemed relevant for insurance placement purposes.

  • As this engagement requires an estimation of Cost of Reproduction New of the subject assets, Consultant shall rely solely on the cost approach to value.

  • Under this approach, an estimate is made of the current Cost of Reproduction, New, of the improvements in accordance with prevailing market prices for materials, labor, and contractor’s overhead, profit, and fees.

Related to Cost of Reproduction New

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