GENERAL AVERAGE DEPOSIT

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 DEPOSIT — A monetary sum that a shipowner or an average adjuster may demand from a cargo owner as security for the payment of their share of general average expenses. This deposit may also be paid by the cargo insurer. In international shipping practice, the consignee must immediately inform their insurer upon receiving a demand for such a deposit, which is typically reimbursed by the insurer.