Reproduction cost definition

Reproduction cost means the cost to repair, replace or restore with material of like, kind and quality compatible with those originally used, including the cost of skilled labor and/or authentic materials necessary to restore the property, provided they are available, as nearly as possible to its original condition. However, if any materials or workmanship needed to repair, replace or restore a building or structure are not reasonably available then materials and workmanship that most closely resembles the condition before the loss shall be used to repair, replace or restore the building or structure.

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Reproduction cost means the estimated cost of

Reproduction cost means the estimated cost to reproduce an item or property or other asset currently owned at current prevailing prices.

Examples of Reproduction cost in a sentence

Reproduction cost of drawings and specifications for review, bidding, construction, and records.
Reproduction cost of drawings and specifications for review, bidding, construction, and records Payment will be based on copy of actual invoice; invoice must identify cost per square foot and sheet size for drawings, number of pages, and exact number of copies for printing.
Reproduction cost new was estimated as a starting point using the historical costs and acquisition dates in the fixed asset registers and then deductions for physical deterioration, functional obsolescence, and economic obsolescence were made to estimate calculated value.
Reproduction cost new is defined as the current cost of reproducing a new replica of a property with the same or closely similar materials.

More Definitions of Reproduction cost

Reproduction cost means the cost of construction of an exact duplicate at current prices using the same materials, construction standards, design, layout and quality of workmanship.

Reproduction cost means the cost of an area plus cost of land, labour and materials to replicate improvements

Reproduction cost means the cost of site plus cost of land, labour, and materials to replicate improvement�.

Reproduction cost means the cost to reproduce the damaged building or specific building features to the exact same design, decorative style and dimensions as existed at the time of loss, using identical materials with respect to kind and quality. Substitution of materials and architectural features with those of like kind and quality will be required only if the identical materials and features cannot be reasonably obtained.

Reproduction cost means the cost of constructing an exact replica of the subject improvement, using cost schedules designed from a specific time. (2011 Real Property Assessment Manual and Guidelines Book 2, Glossary, pg. 19)

Reproduction cost means the cost, including material, labor, and overhead, that would be incurred in constructing an improvement having exactly the same characteristics as the improvement in question.

Reproduction cost means the estimated cost of constructing a new building, structure, or site improvement of like size, design and materials at the site of the original