A term usually used in marine insurance to describe a partial loss that was sustained in order to avoid irreparable damage to the entire undertaking.
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- General average - Wikipedia, the free encyclopedia
The law of general average is a legal principle of maritime law according to which all parties in a sea venture proportionally share any losses resulting from a ...
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Definition of General Average If a cargo ship's master voluntarily sacrifices the cargo, equipment or funds from the ship to save the voyage, then all parties ...
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Aug 14, 2012 ... The owner of the fire-damaged container ship MSC Flaminia has declared general average, meaning all parties with cargo on the ship will ...
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General average. General average is a global maritime industry loss mitigation convention whereby ship owners and cargo interests proportionately contribute ...
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Apr 16, 2010 ... General average in maritime law. Avoid lengthy and expensive general average claims by understanding what the term general average ...
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