Policy Statement:

Lost items are charged a $90 flat rate replacement fee with the option of an acceptable replacement copy at the discretion of the lending library.

• If the book is returned the fee is waived.
• If the patron would like to furnish a replacement copy the borrowing library should send a link to the lending library to the online retailer where the book will be purchased. The lending library must approve the replacement copy before it is purchased. The lending library may specify that the book must be in good condition, like new, new, or that they will not accept any replacement copies for the item.
• Libraries may also reduce the $90 fee to the cost of the item at their discretion. The preferred charge would always be the cost of the item if the system easily allowed it. 

Rationale:

• Initially COLD approved having a replacement fee as the cost of the loaned material. Unfortunately Alma requires a dollar amount configured for replacement costs of Resource Sharing items. The Governance Task Force (GTF) worked with a COLD committee and decided to change the posted fee to $90, but libraries could work together to reduce the price to the cost of the item or accept a replacement copy. The charge would appear on the patrons account when the final Fulfillment overdue email was sent.
• All billing and refund workflows and time periods would follow the local Fulfillment processes to reduce confusion to the patron and Fulfillment staff and student employees.

Action log: