Glossary
General Average
A maritime law principle that requires all cargo owners to proportionally share the costs of damages or losses incurred during a voyage when an intentional sacrifice was made to save the ship or other cargo.
What is General Average?
A maritime law principle that requires all cargo owners to proportionally share the costs of damages or losses incurred during a voyage when an intentional sacrifice was made to save the ship or other cargo. For example if a captain jettisons part of the cargo to prevent the vessel from sinking all cargo owners contribute to the financial loss
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