Damage Replacement Value (DRV) Definition:
Damage Replacement Value (DRV) is the value assigned to a container to determine the total replacement cost in case of damage. The damage replacement value of a container protects the container user from paying for the total loss or unrectifiable damage of a container.
While the container may look strong and sturdy, it can be damaged by unpredictable weather conditions like rough seas, bad stowing, or mishandling during the loading and unloading. Damage replacement value is an insurance policy showing the cost an insurance company will pay an entity to replace a damaged container.
