---
kind: "section"
citation: "46 C.F.R. § 309.203"
title: "46"
number: "309.203"
heading: "Value at time of loss."
url: "https://uscodex.org/cfr/46/309.203"
---

# §309.203. Value at time of loss.


The value of unused stores and supplies on board a vessel at the time of loss, and for which claims for loss will be paid equals:

- (a) The value of such stores and supplies on board at the completion of the previous voyage, plus
- (b) The value of stores and supplies purchased and placed on board the vessel before the commencement of the voyage during which the loss occurred, plus
- (c) The value of stores and supplies purchased and placed on board the vessel after the commencement of such voyage, less
- (d) That portion of the sum of paragraphs [(a)](#a), [(b)](#b), and [(c)](#c) of this section which was sold, transferred, used or consumed to, but not including, the date of the loss.

## Notes

### Authority

Authority: Sec. 204, 49 Stat. 1987, as amended, sec. 1209, 64 Stat. 775, as amended, 70 Stat. 984; 46 U.S.C. 1114, 1289.

### Source

Source: Sections 309.201 through 309.204 contained in G.O. 100, 29 FR 2944, Mar. 4, 1964; 29 FR 3706, Mar. 25, 1964, unless otherwise noted.

### Authority

Authority: Secs. 204, 1209, Merchant Marine Act, 1936, as amended (46 U.S.C. 1114, 1289); Reorganization Plans No. 21 of 1950 (64 Stat. 1273), No. 7 of 1961 (75 Stat. 840) as amended by Pub. L. 91-469 (84 Stat. 1036); Department of Commerce Organization Order 10-8 (38 FR 19707, July 23, 1973); Maritime Administrative Order 440-3 (December 6, 1973).

### Source

Source: 39 FR 30487, Aug. 23, 1974, unless otherwise noted.