48 CFR 1252.228-71
1252.228-71 Fair Market Value of Aircraft.
United States · 48 CFR — Federal Acquisition Regulations System · Status: effective
Cite this
- Citation
- 48 CFR 1252.228-71, 1252.228-71 Fair Market Value of Aircraft, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/249123
- Permanent ID
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Full text
As prescribed in 1228.306-70(a), insert the following clause:
For purposes of clause 1252.228-70, Loss of or Damage to Leased Aircraft, the fair market value of the aircraft to be used in the performance of this contract shall be the lesser of the two values set out in paragraphs (a) and (b) below—
(a) $___; [Contracting Officer insert value] or
(b) If the Contractor has insured the same aircraft against loss or destruction in connection with other operations, the amount of such insurance coverage on the date of the loss or damage for which the Government may be responsible under this contract.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.