[Code of Federal Regulations]

[Title 14, Volume 5]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 14CFR1261.109]



[Page 335-336]

 

                     TITLE 14--AERONAUTICS AND SPACE

 

                          SPACE ADMINISTRATION

 

PART 1261_PROCESSING OF MONETARY CLAIMS (GENERAL)--Table of Contents

 

           Subpart 1261.1_Employees' Personal Property Claims

 

Sec. 1261.109  Computation of allowance.



    (a) The amount allowed for damage to or loss of any item of property 

may not exceed the cost of the item (either the price paid in cash or 

property, or the value at the time of acquisition if not acquired by 

purchase or exchange). There will be no allowance for replacement cost 

or for appreciation in the value of the property. Subject to these 

limitations, the amount allowable is either:

    (1) The depreciated value, immediately prior to the loss or damage 

of property lost or damaged beyond economical repair, less any salvage 

value; or

    (2) The reasonable cost of repairs, when property is economically 

repairable: Provided, That the cost of repairs does not exceed the 

amount allowable under paragraph (a)(1) of this section.

    (b) Depreciation in value is determined by considering the type of 

article involved, its cost, its condition when damaged or lost, and the 

time elapsed between the date of acquisition and the date of damage or 

loss, with appropriate recognition of current replacement value.



[[Page 336]]



    (c) Limitation on agent or attorney fees. No more than 10 per centum 

of the amount paid in settlement of each individual claim submitted and 

settled shall be paid or delivered to or received by an agent or 

attorney on account of services rendered in connection with that claim, 

any contract to the contrary notwithstanding (31 U.S.C. 243).