Overview

average bond


Related Overviews

 

'average bond' can also refer to...

 

More Like This

Show all results sharing this subject:

  • Business and Management

GO

Show Summary Details

Quick Reference

A promise to pay general average contributions, if required. If a general-average loss occurs during a marine voyage the carrier has a right to take part of the cargo as payment of the cargo owners' contribution to the loss. As an alternative to the possibility of losing part of the cargo, the cargo owner may take out an average bond with insurers, who agree to pay any losses arising in this way.

Subjects: Business and Management.


Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.