Particular Average
Particular average is a partial loss that affects only a particular interest and is not shared, such as some cartons damaged by seawater or crushed during discharge. It falls on the owner of the affected goods unless their policy covers the cause. Policies on ICC (A) terms generally cover it, while (B) and (C) respond only to named causes. Document the damage and call for a survey promptly so the claim can be proven.
Related terms
- General Average (GA)
General average is the maritime law principle that an extraordinary sacrifice or expense, intentionally made to save ship and cargo from a common danger, is shared by all parties…
- Total Loss
A total loss occurs when goods are entirely lost or so damaged that they no longer are the thing insured, called an actual total loss.
- Cargo Surveyor
A cargo surveyor is an independent party who inspects the condition, quantity, packing or loading of goods and records the findings in a survey report.
- Institute Cargo Clauses (ICC A, B, C)
The Institute Cargo Clauses are the London market's standard wordings for cargo policies, with the 2009 edition the most widely used.