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.
While the doors are now open for wine shipments the ruling may prompt the Massachusetts Legislature to finally enact a model direct shipping law.
Unfortunately for Alaskans, none of these shipyards are located in the United States and US shipping laws require all vessels engaged in domestic trade be US owned and operated vessels.
Anti-direct shipping laws are seldom enforced against private citizens returning from vacation with a bottle of wine or people who send a bottle of wine to a relative as a gift.
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.
By flouting shipping laws and common business regulations, counterfeiters and producers of illegal goods can produce a profit for their operators while selling goods that appear to be up to par at a lower price.
In your business, that's certainly true: think about how supplier and distributor consolidation has altered the selling landscape; how changes in wine shipping laws have created new competition; how state laws loosening restrictions on in-store tastings and Sunday sales have expanded selling opportunities and potentially increased profits.
Anti-direct shipping laws are seldomly enforced against private citizens returning from vacation with a bottle of wine or people who send a bottle of wine to a relative as a gift.
Courts in Florida, Ohio and Pennsylvania struck down the state wine shipping laws based upon the Supreme Court decision.