general average bond

Maritime law. A cargo owner’s bond exacted by a carrier to ensure that the owner will pay the general average contribution.

• When the contribution amounts are disputed, the carrier requires this bond before agreeing to unload the ship. It may also be required when the amounts are undisputed, as security of payment.

— Also termed average bond. See general average under AVERAGE(3). [Cases: Shipping 198. C.J.S. Shipping § 470.]

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译者Lorna，毕业于国内一流的法学院，擅长翻译各种与商业秘密相关的法律文件。