The replacement cost of an item is a set dollar amount that becomes the default amount determined by the Policies and Procedures Committee to reflect a fair replacement price for a given item. The Committee reviews all replacement costs every year.
Libraries should link materials using the default replacement cost for consistency and uniformity. Libraries may change the replacement cost to reflect the actual list price of the item.
Replacement costs are used by libraries to bill patrons and libraries for lost items. If a library chooses, at the time of linking, to replace the default replacement cost with the actual list price of the item, the patron or library will be billed at that amount.
Replacement costs are specific to items represented by the following material types:
It is recommended that the items marked with an asterisk (*) above be linked at list price or replacement cost.