---identifier: "/us/cfr/t46/s309.203"source: "ecfr"legal_status: "authoritative_unofficial"title: "46 CFR § 309.203 - Value at time of loss."title_number: 46title_name: "Shipping"section_number: "309.203"section_name: "Value at time of loss."chapter_name: "MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION"subchapter_number: "G"subchapter_name: "EMERGENCY OPERATIONS"part_number: "309"part_name: "VALUES FOR WAR RISK INSURANCE"positive_law: falsecurrency: "2026-03-24"last_updated: "2026-03-24"format_version: "1.1.0"generator: "[email protected]"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)."regulatory_source: "39 FR 30487, Aug. 23, 1974, unless otherwise noted."cfr_part: "309"---
Identifier
/us/cfr/t46/s309.203
Currency
2026-03-24
Positive Law
No
Updated
2026-03-24
Chapter
Maritime Administration, Department of Transportation
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. ... 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).
# 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), (b), and (c) of this section which was sold, transferred, used or consumed to, but not including, the date of the loss.