Nautical words



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Average Act. A general average act.

Average Adjuster. Skilled and competent person who computes the contributions due from various interests when making good a General Average loss.

Average Adjustment. Equitable sharing of the liability to make good a General Average loss. Based on the pecuniary value of the property each party had at stake.

Average Bond. Secured undertaking to satisfy a demand for a General Average contribution that is to be assessed. Given to ship by a consignee of cargo, or part cargo, when a General Average claim is pending.

Average Deposit. Money payment made to a ship, by a consignee of cargo, to cover a pending General Average claim.

Average Deposit Receipt. Receipt for a General Average Deposit.

Average Loss. 'General Average Loss.'

Average Statement 28 Azimuth



Average Statement. Document, drawn up by General Average adjuster, stating liabilities of the various interests concerned in making good a General Average loss.


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