General Average

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General Average

Provision in maritime law where all shippers on a given voyage would reimburse the ship line in the event of vessel sinking or catastrophic damage. It also provides for the reimbursement to those shippers whose cargo was thrown overboard in order to save the vessel.

General Average

In maritime law, a form of insurance with the condition that if one company's cargo must be thrown overboard in order to save the ship from sinking, all other companies with cargo on the ship pay restitution. The form of the general average is agreed upon in advance; normally, the companies pay in proportion to the amount of cargo they each had on the ship. This is done to reduce risk to all companies using a ship to transport their goods.
References in periodicals archive ?
Covering various aspects of EU shipping law in detail, this fully updated new edition takes a commercial as well as a legal perspective throughout.
This means plastic pallets are hygienic and exempt from international shipping laws that hinder the movement of wooden pallets, making them perfect for transporting fresh food, pharmaceutical products and beverages.
This article will examine the current LNG tanker market, US shipping laws, and the impact each will have on Alaska's LNG trade.
The first merchant shipping laws in Cyprus were passed in 1963 with Famagusta designated as the port of registry.
Proponents for these reforms stand ready to work with all industry stakeholders to bring our shipping laws into conformance with the rules of competition that govern today's global marketplace.
These waters have previously been understood to be international waters and were subject to shipping laws as such.
WINE EDITOR SARA SCHNEIDER RESPONDS: Unfortunately, due in part to quirky shipping laws and distribution, we see few Colorado wines outside the state, making it a challenge for our judges to taste them.
Direct sales from the winery have boomed in the last five years with changes to the shipping laws, enabling consumers in many slates to finally buy their favorite wines and have it shipped home.
State-by-state provisions by carrier are also included to help marketers better understand shipping laws by location.
Lillian Bilocca, Christine Jansen, Mary Denness and Yvonne Blenkinsop lobbied Harold Wilson's government with a 10,000 signature petition to change shipping laws.
To do so would undoubtedly lead to immediate legislation repealing direct shipping laws and the enactment of legislation that discriminates against out-of-state wineries and retailers and profoundly restricts consumers' ability to purchase the wines they want.