General Average definition

General Average means the declaration by the shipping line calling for contributions for losses, costs, or expenses, including but not limited to salvage costs, under a contract of affreightment;

General Average means a declaration by the shipping line calling for contributions for losses, costs, and expenses, including but not limited to salvage charges under a contract of affreightment such as a bill of lading or similar;

General Average means any General Average claims that arise from the voluntary sacrifice of a cargo ship's cargo, equipment or voyage, to save the vessel;

Examples of General Average in a sentence

• Carrier is not required to note "on deck stowage" on the face of this Bill of Lading and goods so carried shall constitute under deck stowage for all purposes including General Average.

• The General Average statement shall be prepared by adjusters appointed by Carrier.

• The Customer shall indemnify the Freight Forwarder in respect of any claims of a General Average nature which may be made on him and shall provide such security as may be required by the Freight Forwarder in this connection.

• The Carrier shall be under no obligation to take any steps whatsoever to collect security for General Average contributions due to the Merchant.

• Any cash deposit being made as security to pay General Average and/or salvage shall be remitted to the Average Adjuster and shall be held by him at his risk in a special account in a duly authorized and licensed bank at the place where the General Average statement is prepared.

More Definitions of General Average

General Average means any extraordinary sacrifice or expenditure that is voluntarily and reasonably made or incurred for the purpose of preserving property at risk in a Sea voyage.

General Average means the apportionment of financial liability for the loss arising from the jettisoning of Goods by dividing the costs among all those whose property (ship or cargo) was preserved by the action;

General Average means the amount the Insured is legally liable to pay when an extraordinary sacrifice or expenditure is reasonably incurred for the common safety and purpose of preserving the Property from loss or damage when it is involved in a common maritime adventure.

General Average means exceptional expenditures or sacrifices intentionally and reasonably incurred to preserve and/or save a vessel, goods and freight from a common peril.

General Average means the declaration by the shipping

General Average means the declaration by the shipping line calling for contributions for losses, costs, or expenses, including but not

General Average. In water transportation, the deliberate sacrifice of cargo to make the vessel safe for the remaining cargo. Those sharing in the spared cargo proportionately cover the loss. Generator Set (Gen Set) : A portable generator which can be attached to a refrigerated container to power the refrigeration unit during transit. Gross Weight : Entire weight of goods, packaging and freight car or container, ready for shipment. Generally, 80,000 pounds maximum container, cargo and tractor for highway transport. Groupage : A consolidation service, putting small shipments into containers for shipment. The Hague Rules : A multilateral maritime treaty adopted in 1921 (at The Hague, Netherlands). Standardizes liability of an international carrier under the Ocean B/L. Establishes a legal ”floor” for