Encyclopedia
Contributory value of the cargo
Cargo contribution value - is determined at the moment of cargo discharge based on the cost established according to the trade invoice issued to the consignee; in the absence of an invoice, it is determined based on the cargo's cost at the time of shipment. The cargo cost includes insurance and freight expenses, unless the freight is at the risk of the cargo owner. From the cargo cost, amounts of all losses due to loss or damage of the cargo before its discharge or during its discharge are deducted. The contribution value of cargo sold near the destination is determined based on the amount of net revenue from the sale of the cargo plus the amount reimbursed in accordance with the general average distribution (ceased to be in force as of 2019-11-26)1.
Russian Federation Maritime Commerce Code. 1999, amended on 2001-05-26, Article 304, paragraph 2, ceased to be in force as of 2019-11-26. ↩