When a master makes a deliberate sacrifice or incurs extraordinary expenditure to save the common maritime venture—ship, crew, and cargo—general average is declared.
Source: https://en.wikipedia.org/wiki/General_average
Matching tools and partners
You might also be interested in these terms
Analyze all 11 Incoterms 2020: cost matrix, risk timeline, insurance gap detector and customs responsibility – free, no login required.
Free · No password · Never a paywall. Weekly top news and facts from logistics.
Share your knowledge, ask follow-up questions, or add practical insights to this page. Every contribution is moderated before publication.