Common use of Stated valuation Clause in Contracts

Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by the Ship Valu- ation Committee in accordance with sections 902(a) and 1209(a)(2) of the Mer- chant Marine Act, 1936, as amended (46 U.S.C. 1242(a), 1289(a)(2)). The stated valuation of a vessel does not include vessel stores and supplies, which con- sist of (a) consumable stores, (b) sub- sistence stores, (c) slop chest, (d) bar stock, and (e) fuel, as defined in Mari- time Administration Inventory Book Forms MA–4736, A through K, which will be valued separately. § 309.4 Maximum amount insured. A stated valuation is the maximum amount for which the Maritime Admin- istration will provide war risk hull in- surance for damage to or actual or con- structive total loss of the vessel to which such valuation applies and for which claims for damage to or actual or constructive total loss of such in- sured vessel may be adjusted, com- promised, settled, adjudged, or paid by the Maritime Administration with re- spect to insurance attaching during the effective period of such valuation under the standard forms of war risk hull insurance interim binder or policy prescribed by §§ 308.106 and 308.107 of this chapter.

Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by the Ship Valu- ation Committee in accordance with sections 902(a) and 1209(a)(2) of the Mer- chant Marine ActXxxxxx Xxx, 19360000, as amended (46 U.S.C. 1242(a), 1289(a)(2)). The stated valuation of a vessel does not include vessel stores and supplies, which con- sist of (a) consumable stores, (b) sub- sistence stores, (c) slop chest, (d) bar stock, and (e) fuel, as defined in Mari- time Administration Inventory Book Forms MA–4736, A through K, which will be valued separately. § 309.4 Maximum amount insured. A stated valuation is the maximum amount for which the Maritime Admin- istration will provide war risk hull in- surance for damage to or actual or con- structive total loss of the vessel to which such valuation applies and for which claims for damage to or actual or constructive total loss of such in- sured vessel may be adjusted, com- promised, settled, adjudged, or paid by the Maritime Administration with re- spect to insurance attaching during the effective period of such valuation under the standard forms of war risk hull insurance interim binder or policy prescribed by §§ 308.106 and 308.107 of this chapter.