GENERAL AVERAGE BOND

A B C D E F G H I J L M N O P Q R S T U V W Y Z
GENERAL AVERAGE BOND — A written guarantee provided by the cargo consignee or their insurer to the carrier upon receipt of goods when losses or expenses qualifying as general average have occurred. The consignee agrees to declare the cargo's value and pay their proportionate share of the general average contribution as determined by the adjuster. The carrier may withhold the cargo until this bond and adequate security are provided.