What is a General Average?

Marked as spam
Asked on July 8, 2021
Private answer

General Average is a sum of money that all parties to the venture have to pay to any one member who suffers a partial loss during the voyage. If a cargo owner does not pay his contribution, then the ship owner will have a ‘lien’ on the cargo.

Marked as spam
Posted by marinetales
Answered on July 8, 2021