PARTICULAR AVERAGE
\pətˈɪkjʊləɹ ˈavɹɪd͡ʒ], \pətˈɪkjʊləɹ ˈavɹɪdʒ], \p_ə_t_ˈɪ_k_j_ʊ_l_ə_ɹ ˈa_v__ɹ_ɪ_dʒ]\
Sort: Oldest first
-
An insurance provision restricted only to marine items, in which the shipping company, (on whose ship the damages, or expenses occurred), will be liable to pay for the damages on their own. These damages or expenses are incurred in case of immediate harm to the cargo on the ship, or the ship itself, or while trying to prevent further damage. The particular average has been voted out in favor of the relevant institute cargo clause.
By Henry Campbell Black
Word of the day
dust storm
- a windstorm that lifts up clouds of dust or sand a windstorm that lifts up clouds dust or sand; "it was the kind of duster not experienced in years"