Common use of Responsibility for Loss Clause in Contracts

Responsibility for Loss. In the event the Chromebook is lost or stolen, the Student and Parent will be billed the full cost of replacement according to the following schedule: Loss occurs within one calendar year of issue — 90% of full replacement cost Loss occurs within two calendar years of issue — 80% of full replacement cost Loss occurs within three calendar years of issue — 65% of full replacement cost Loss occurs within four calendar years of issue — 50% of full replacement cost Loss occurs within five calendar years of issue —- 35% of full replacement cost

Responsibility for Loss. In the event the Chromebook is lost or stolen, the Student and Parent will be billed the full cost of a replacement according to the following schedule:  Loss occurs within one calendar year of initial issue — – 90% of full replacement cost  Loss occurs within two calendar years of initial issue — – 80% of full replacement cost  Loss occurs within three calendar years of initial issue — – 65% of full replacement cost  Loss occurs within four calendar years of initial issue — – 50% of full replacement cost  Loss occurs within five calendar years of initial issue —- – 35% of full replacement cost