{"@context":"https://schema.org","@type":"DefinedTerm","name":"General Average Bond","description":"Cargo interests and shipowners rely on the General Average Bond to secure the release of goods after a general average act, before the final cost apportionment has been calculated. The bond is a written undertaking by the cargo owner or their insurer to pay the cargo's proportionate share of general average expenditure once determined by the average adjuster. It comes into play when an extraordinary peril – engine failure, grounding, fire on board – forces the master to take measures for the com","inDefinedTermSet":{"@type":"DefinedTermSet","name":"Frachtportal Logistics Glossary","url":"https://www.freight-academy.com/en/glossary"},"url":"https://www.freight-academy.com/en/glossary/general-average-bond","inLanguage":"en","dateModified":"2026-06-26T21:31:20.183955","citation":"https://www.britannica.com/topic/general-average","markdownMirror":"https://www.freight-academy.com/api/md/glossary/en/general-average-bond","provider":{"@type":"Organization","name":"Frachtportal","url":"https://www.freight-academy.com"},"quickSummary":"General Average Bond · Cargo interests and shipowners rely on the General Average Bond to secure the release of goods after a general average act, before the final cost apportionment has been calculated. · Quelle: https://www.britannica.com/topic/general-average"}