LVC definition
Examples of LVC in a sentence
Task orders requiring work in this area will require contractor subject matter expertise for the MCoE and Proponent Schools in the set-up, conduct, execution, and documentation of live, constructive, and virtual (LVC) simulation exercises and analytical studies, using the Integrated Training Environment (ITE), which links a combination of: selected training aids (LVC), devices, simulators and simulations (TADSS); infrastructure; Battle Command (BC) systems; and a training scenario framework.
For the purposes of this Article: (a) "FOB" is, except as provided for in paragraph 3, thefree-on-board value of a good, inclusive of the costof transport from the producer to the port or site of final shipment abroad; (b) "LVC" is the LVC of a good, expressed as a percentage;and (c) "VNM" is the value of non-originating materials used in the production of a good.
For the purposes of calculating the LVC of a good, thefollowing formula shall be used: FOB -VNM LVC = x 100 % FOB 2.
If a good is subject to an LVC-based rule of origin, thevalue of the accessories, spare parts, tools, and instructional or other information materials shall be taken into account as the value of the originating or non-originating materials, asthe case may be, in calculating the LVC of the good.
If a good is subject to an LVC-based rule of origin, thevalue of the packing materials and containers in which the goodis packaged for retail sale shall be taken into account asoriginating or non-originating materials, as the case may be,in calculating the LVC of the good.