The replacement cost of public structures is calculated as the cost of purchasing or building a new structure, with an area and quality similar to or better than those of the affected structure, or of repairing a partially affected structure, including labor and contractors’ fees and transaction costs such as registration and transfer taxes.


International Finance Corporation. 2006. "Glossary of Terms." *[IFC Policy & Performance Standards and Guidance Notes](*. Washington D.C.: International Finance Corporation.
[*Last Accessed* 1 November 2013]