Encyclopedia
Contribution value of property
Contributory value of property — is determined in accordance with the rules established by this article, based on the actual net value of such property after the completion of the ship's voyage. To this value is added the amount recovered in the order of distribution of general average for donated property, unless this amount has already been included. In determining the contributory value of property, all additional expenses incurred with respect to this property after the act of general average are deducted, except for those expenses which are recognized as general average or allocated to the ship pursuant to a decision on payment of special compensation in accordance with article 343 of this Code (ceased to be in force from 2019-11-26)1.
Russian Federation Maritime Commerce Code. 1999, as amended on 2001-05-26, article 304, paragraph 1, ceased to be in force from 2019-11-26. ↩