Verified costs Sample Clauses

Verified costs. In cases where the owner and the Chief, Division of Insur- ance, Maritime Administration, have not agreed in advance of the loss upon amounts representing, or the method for determining, the average daily con- sumption costs of Stores and Supplies for the owner’s vessel, claims for total loss of such Stores and Supplies must be submitted by the owner on Affidavit in Proof of Claims for the Loss of Stores and Supplies, Exhibit B. In such cases, the value of the consumable stores will be determined as follows: (1) The value of consumable stores on board the vessel at the time the vessel was ready to sail, determined by cer- tified inventories of the owner of amounts on board the vessel at the ter- mination of the preceding voyage or date of last inventory, less actual con- sumption to date of sailing, plus a cer- tified statement by the owner of actual additional purchases made from date of termination of the preceding voyage or date or last inventory to date vessel was lost, subject to audit by the Mari- time Administration, less (2) The average daily consumption cost determined by dividing the amount determined as in paragraph (b)(1) of this section by the number of days for which the vessel was stored, times the number of days from the date the vessel was ready to sail to, but not including, the date of loss, plus actual amount of consumable stores trans- ferred or sold. The values of subsistence stores, slop chest, bar stock, and fuel, at the time of loss are determined in the same manner, supported by certified inven- tories of the owner and invoices.