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Particular Average Loss

maritime property contribution cargo

In maritime law, damage sustained by a ship, cargo, or freight that is not recompensed by contribution from all interests in the venture but must be borne by the owner of the damaged property.

Particular average loss is the opposite of general average loss, which denotes contribution by the various interests engaged in a maritime undertaking to recoup the loss of one of them for the voluntary sacrifice of a portion of the ship or cargo in order to save the remaining property and the lives of those on board, or for extraordinary expenses necessarily incurred for the common benefit and safety of all.

CROSS-REFERENCES

Admiralty and Maritime Law.

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almost 6 years ago

we are marine supply located in all egyptain porst