Depreciated Replacement Costs Law and Legal Definition

According to 22 CFR 33.2 [Title 22; Foreign Relations; Chapter I; Department of state; Subchapter D; Claims and Stolen Property; Part 33; Fishermen's Protective Act Guaranty Fund Procedures under Section 7], depreciated replacement costs means the present replacement cost of capital equipment after being depreciated on a straight line basis over the equipment's depreciable life, which is standardized at ten years.