Fair Condition

What is Fair Condition?

Fair Condition meaning in finance terminology / glossary / dictionary is:
Pertaining to the condition of equipment, it refers to equipment that is soiled or shopworn, rusted, deteriorated or damages, but that is still usable though the utility is slightly impaired; renovation or repair is expected in the near future; it may be used to describe new, used or reconditioned property.


reference: Texas Workforce Commision: Financial Manual for Grants & Contracts Appendix A: Glossary