The accumulated general average deposits that are available for general average expenditure and, in due cou se, payment of the contributions.
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A fund collected jointly by a ship owner and his average adjuster consisting of general average deposits and available for the payment of general average expenditure, and eventually, of contributions.
Tag: RAW
General average guarantee
An insurer’s undertaking to pay the contribution due towards a general average fund. It normally replaces a general average deposit.
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An insurer’s guarantee that may be accepted by a ship owner in lieu of a general average deposit.
General average loss
Sacrifice or expenditure directly consequent upon a general average act. Unless specifically agreed the insurer is not liable for any general average loss where the loss was not curred for the express purpose of avoiding an insured peril or in connection with the avoidance of such a peril (Marine Insurance Act 1906, s.66(6)). See GENERAL AVERAGE.
General average sacrifice
UK: Property sacrificed for the common safety of the maritime adventure. The owner of sacrificed cargo may claim directly against his insurer under the Institute Cargo Clauses, or, after completion of the voyage, seek general average contributions from the ‘saved interests. See GENERAL AVERAGE.
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The sacrifice of one of the interests in a marine venture made to preserve the other interests from a total loss.
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The voluntary destruction of part of the vessel or the cargo, or the deliberate expenditure of funds in time of grave peril, which is successful in avoiding total disaster.
General average security
General average contribution is secured by a general average bond, general average deposit or general average guarantee. The vessel owner’s interest is also secured when the cargo owner supplies documents to replace the shipowner’s lien on the cargo.
General Bond
A customs and excise bond covering all transaction during a specified period.
General care floor
Any all-purpose patient care unit in a hospital facility that is not designated as intensive care unit, critical care unit, or intermediate care unit.
General Damages
Damages awarded to an injured person for intangible loss which cannot be measured directly by rupee. Popularly known as “pain and suffering.” General damages are distinguished from special damages which are awarded from actual economic loss, such as medical costs, loss of income, etc.
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Damages paid for harm for which no specific evidence of financial loss is required because such harm- for example, paid and suffering-is presumed to have occurred from the nature of the event. General Damages usually comprise for (i) Pain suffering and distress (ii) Loss of enjoyment of life and loss of amenities (iii) Loss of recreational ability, and/or (iv) Loss of redacted expectation of life.
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UK,REFERENCE: See: Damages.
General Data Provider Regulation (GDPR)
European Union (EU) regulation on Internet data privacy.
General Duty of Care
A general duty of care is owed to all legal neighbors, those so closely and Directly affected by an act or omission that they ought reasonably to be in contemplation at the time that the tort is committed.