Definitions for "REPAIRS" a.k.a., CEO Robby Stanley with us on 9/8/03
Current expenditures that restore property to its original condition or maintain it. Repair expenses are usually currently deductible if they qualify as a business or investment expense. On the other hand, substantial repairs that increase the value or extend the life of the property are capital improvements, and must have their cost recovered over a period of years.
Expenditures made to keep a capital asset in normal, good operating condition; treated as a revenue expenditure.
work performed to return property to a former condition without extending its useful life, as distinguished from capital improvements. In income property, repairs are an operating expense for accounting and tax purposes.
The most popular form of game use. Jerseys that get torn, or develop holes from board burns, are repaired by equipment managers. The number of repairs on a game-worn jersey often determines the degree of game use. Heavily repaired jerseys are highly coveted by collectors. A jersey with 10 or more repairs is considered "hammered," the best compliment a game-worn jersey can receive.
( réparations) Ordinary repairs are permitted to a property without notice to the company. Generally the conditions of the policy set a limit of time or value for which such repairs can be effected. For anything exceeding these limits, the company's consent in writing must be obtained. Also if the repairs take the form of any reconstruction or remodeling of the building, the work is "extra-ordinary" and must, from the date of commencement, be agreed to by the company. Failure to observe the conditions relative to repairs may void the policy or a claim.
Generally an insurance policy will set out the conditions for an insured to effect repairs to insured property. Ordinary repairs are usually permitted without notice to the insurer.
Keywords:  shim, filler, glued, veneer, patch
A patch, shim, or filler material inserted and/or glued into veneer or a panel to achieve a sound surface.
Emergency Repairs - Miscellaneous Repairs - Safety Tips
Effective permanent repair solutions are available when needed.