Common use of Stated valuation Clause in Contracts

Stated valuation. A s t a t ed v a l u a t io n r ep r ese n t s j u s t co m pe n s a t io n fo r t h e vessel t o w h ic h i t a pplies co m p u t ed b y t h e S h ip V a l u- a t io n Co mm i tt ee i n a cco r d a n ce wi t h sec t io n s 902( a) a n d 1209( a)(2) of t h e Me r - c h a n t M a r i n e Ac t , 1936, a s a m e n ded (46 U. S .C. 1242( a), 1289( a)(2)). T h e s t a t ed v a l u a t io n of a vessel does ▇ ▇ ▇ ▇ ▇ ▇▇ u de vessel s t o r es a n d s u pplies, w h ic h co n- s i s t of ( a) co n s u m a ble s t o r es, ( b) s u b- s i s t e n ce s t o r es, ( c) s lop c h es t , ( d) b a r s t oc k , a n d ( e) fu el, a s defi n ed i n M a r i- t i m e Ad m i n i s t r a t io n I n ve n t o ry Boo ▇ ▇ ▇ ▇ ▇ ▇ MA–4736, A t ▇▇ ▇ ▇ ▇ ▇ K, ▇ ▇ ic h will be v a l u ed sep a r a t el y .

Stated valuation. A s t a t ed v a l u a ua t io n r ep r ese n t s j u s t co m pe n s a t io n fo r t h e vessel t o w h ic h i t a pplies co m p u t ed b y t h e S h Sh ip V a l u- a t io n Co mm i tt ee i n a cco r d a n an ce wi t h sec t io n s 902( a) a n an d 1209( a)(2) of t h e Me r - c h a n han t M a r ar i n e Ac t , 1936, a s a m e n ded (46 U. S .C. 1242( a), 1289( a)(2)). T h Th e s t a t ed v a l u a ua t io n of a vessel does ▇ ▇ ▇ ▇ ▇ ▇▇ u de vessel s t o r es a n an d s u pplies, w h ic h co n- s i s sis t of ( a) co n s u m a ble s t o r es, ( b) s u b- s i s sis t e n ce s t o r es, ( c) s lop slop c h es t , ( d) b a r ar s t oc k , a n an d ( e) fu el, a s defi n ed i n M a r ar i- t i m e Ad m i n i s is t r a ra t io n I n ve n t o ry Boo ▇ ▇ ▇ ▇ ▇ ▇ MA–4736, A t ▇▇ ▇ ▇ ▇ ▇ K, ▇ ▇ w h ic h will be v a l u ed sep a r a ara t el y .