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What is general average?
2019-08-24

General average means the apportionment of financial liability for the loss arising from the jettisoning of cargo by dividing the costs among all those whose property (ship or cargo) was preserved by the action. If a marine carrier experiences a fire or some other extraordinary sacrifice or expenditure occurs, the carrier may declare general average. If this happens, all those who have cargo on the ship may be required to share in the cost of the expenditure.


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