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The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
The affinity laws (also known as the "Fan Laws" or "Pump Laws") for pumps/fans are used in hydraulics, hydronics and/or HVAC to express the relationship between variables involved in pump or fan performance (such as head, volumetric flow rate, shaft speed) and power. They apply to pumps, fans, and hydraulic turbines. In these rotary implements ...
This percentage multiplied by the replacement cost equals the actual cash value. For instance, imagine a man bought a television set for $2,000 five years ago, which was unfortunately destroyed in a hurricane. His insurance provider estimates that televisions typically have a useful life of 10 years. Today, a similar television would cost $2,500.
Specific speed N s, is used to characterize turbomachinery speed. [1] Common commercial and industrial practices use dimensioned versions which are of equal utility. Specific speed is most commonly used in pump applications to define the suction specific speed —a quasi non-dimensional number that categorizes pump impellers as to their type and proportions.
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Resale price maintenance (RPM) or, occasionally, retail price maintenance is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a price ceiling (maximum resale price maintenance).