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General Average

The financial definition for 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.




Similar Matches

General Agreement on Tariffs and Trade (GATT)

General Agreement on Tariffs and Trade (GATT)
A treaty adopted by the United Nations aimed at elimination of international trade barriers between member countries.


General Average Contribution

General Average Contribution
The amount of money paid by each shipper involved in a General Average.


General cash offer

General cash offer
A public offering made to investors at large.


Further Suggestions

General ledger
General lien
General Order
General partner
General partnership
General revenue
Generally Accepted Accounting Principles (GAAP)


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General Average
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