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What does stipulated loss value mean?

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stipulated loss value
(SLV)
Noun


The amount for which the lessee is held liable for in the event the leased equipment is lost or irreparably damaged during the lease term as set in the stipulated loss value schedule equal to the present value of remaining lease payments and the residual value at any point in time.

Synonym(s): 
  • casualty loss value (CLV); insured value.
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