[Code of Federal Regulations]
[Title 14, Volume 5]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR1261.109]

[Page 337-338]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
                   CHAPTER V--NATIONAL AERONAUTICS AND
                          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 338]]

    (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).