Define: Repair Costs

How is Repair Costs defined in a legal contract?

• Repair Costs means reasonable and necessary costs that are actually incurred to mend specific items to a condition that is compliant with certain requirements. Seen in 4 SEC Filings.
• Repair Costs means only the reasonable and customary value of the actual labor, equipment, and material costs incurred by a customer to repair damage to their facilities. This is supported by actual invoices and/or receipts for work completed by each repair contractor. This specifically excludes, among other things, any upgrade, improvement, reinforcement, enlargement, replacement or extension of the customer’s facilities. All costs arising from collection actions, whether incurred by the customer or collection agencies, any other costs or expenses as mentioned in this Contract or any other provision of this Contract are also excluded. Seen in 4 SEC Filings.
• Repair Costs means the cost to repair damage to the property. Seen in 3 SEC Filings.
• Repair Costs means the cost to repair damages to the property. Seen in 3 SEC Filings.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of repair costs' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Repair Costs means the reasonable and actual value expended in making repairs due to property damage.

Relevant Contract Types

• Real Estate Contract
• Rental or Lease Agreement
• Property Management Contract
• Construction Contract

Relevant Circumstances

• When a residential or commercial property incurs damages.
• When equipment, machinery, or assets in a business needs repair.

Relevant Sectors

• Real Estate
• Construction
• Property Management

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Genie Definition 2

• Repair Costs means the justified and true price of mending specific items to fulfil certain standard requirements.

Relevant Contract Types

• Services Contract
• Manufacturing and Supply Contract
• Product Warranty Agreement

Relevant Circumstances

• When a product or good sold by a business malfunctions or breaks down.
• When a service provided by a business requires repair work to meet established standards.

Relevant Sectors

• Manufacturing
• Retail
• Technology

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