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GENERAL AVERAGE BOND [2 records]

Filter results by subject field Alphabetical list of terms

Filter results by subject field

Alphabetical list of terms

Record 1 2018-02-26

English

Subject field(s)
  • Transportation Insurance
  • Transport of Goods
  • Trade
DEF

A written guarantee made by an insurance company to pay an insured’s proportion of a general average loss.

OBS

Such a guarantee is usually accepted by the general average adjuster in lieu of a cash deposit and is additional security to the bond signed by the owner of the goods subject to the general average loss.

French

Domaine(s)
  • Assurance transport
  • Transport de marchandises
  • Commerce
Key term(s)
  • garantie au titre d'avaries communes
  • garantie d'avaries communes

Spanish

Save record 1

Record 2 2010-03-29

English

Subject field(s)
  • Transportation Insurance
  • Foreign Trade
  • Maritime Law
  • Cargo (Water Transport)
DEF

A principle of maritime law according to which the owners of a ship and cargo share in a loss incurred voluntarily.

CONT

It is recognized that three conditions must exist in order to invoke general average: (1) the adventure must be exposed to a common and imminent peril; (2) extraordinary expenses or sacrifices must be incurred to avert or mitigate the peril; and (3) the adventure (or at least part of it) must be saved. Should the vessel and cargo sink or be lost through fire or otherwise, general average would not apply.

OBS

An example [of general average] is when a cargo has to be jettisoned in order to save a vessel in danger of sinking during a storm.

PHR

general average clause, bond, contribution.

French

Domaine(s)
  • Assurance transport
  • Commerce extérieur
  • Droit maritime
  • Cargaisons (Transport par eau)
DEF

Avarie propre aux transports par mer ou dans certains cas fluviaux, résultant du sacrifice de marchandises ou de la dépense (dite avaries frais) engagée par le commandant en raison d'un péril menaçant le bateau, tel qu'un abordage, un échouement, une panne de machine, etc. Cette mesure étant pour le salut de l'armateur et des propriétaires de la marchandise, chacun devra alors in fine participer aux frais, proportionnellement aux valeurs sauvées.

CONT

À titre d'exemple, un fait d'avarie commune existe lorsqu'au cours d'une tempête on jette une partie de la cargaison à la mer en vue de sauver le navire.

PHR

clause d'avarie commune, compromis d'avarie commune, contribution à l'avarie commune.

Key term(s)
  • avarie grosse
  • grosse avarie

Spanish

Campo(s) temático(s)
  • Seguro de transporte
  • Comercio exterior
  • Derecho marítimo
  • Cargamento (Transporte por agua)
DEF

Daño producido intencionadamente en un buque o en las mercancías que transporta para evitar otros mayores en el propio buque o en su carga.

CONT

Cuando para evitar un peligro que amenaza a la vez al navío y a la carga, el capitán se ve obligado, por razón de interés común, a decidir un sacrificio de mercancías y este sacrificio proporciona un resultado favorable; la pérdida o el daño así provocado constituye una "avería común".

PHR

Cláusula de avería gruesa, compromiso de avería gruesa, contribución a la avería gruesa.

Save record 2

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