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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词条贡献者

双语律师Max，国际知名法学院法律专业，擅长翻译各类与航空航天、国防及政府服务相关的法律文件。