particular average

particular average particular average average2

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particular average UK US noun [U] INSURANCE, LAW
an agreement that says that the cost of damage to goods that a ship is carrying is paid for by the owner of the goods, not the shipping company: »

His work dealt with all aspects of shipping insurance claims, including general and particular average.

Compare GENERAL AVERAGE(Cf. ↑general average)

Financial and business terms. 2012.

Look at other dictionaries:

  • Particular average — Particular Par*tic u*lar, a. [OE. particuler, F. particulier, L. particularis. See {Particle}.] 1. Relating to a part or portion of anything; concerning a part separated from the whole or from others of the class; separate; sole; single;… …   The Collaborative International Dictionary of English

  • Particular average — Average Av er*age, n. [OF. average, LL. averagium, prob. fr. OF. aver, F. avoir, property, horses, cattle, etc.; prop. infin., to have, from L. habere to have. Cf. F. av[ e]rage small cattle, and avarie (perh. of different origin) damage to ship… …   The Collaborative International Dictionary of English

  • particular average — A term used in contradistinction to general average, denoting a loss on vessel, cargo, or freight, to be borne by the owner of the particular subject or interest upon which it happens. 48 Am J1st Ship § 621. A term generally regarded as… …   Ballentine's law dictionary

  • particular average — noun : a partial loss in marine insurance that must be borne by the interest or goods sustaining it without benefit of contribution from other interests compare general average * * * Marine Insurance. a loss at sea, as through accident or… …   Useful english dictionary

  • particular average — Marine Insurance. a loss at sea, as through accident or negligence, that is borne solely by the owner of the lost property. Abbr.: P.A. Also called particular average loss. Cf. general average. [1765 75] * * * …   Universalium

  • particular average — PA See average …   Big dictionary of business and management

  • particular average — /pəˌtɪkjυlə æv(ə)rɪdʒ/ noun a situation where part of a shipment is lost or damaged and the insurance costs are borne by the owner of the lost goods and not shared among all the owners of the shipment …   Dictionary of banking and finance

  • particular average loss — In maritime law, damage sustained by a ship, cargo, or freight that is not recompensed by contribution from all interests in the venture but must be borne by the owner of the damaged property. Dictionary from West s Encyclopedia of American Law.… …   Law dictionary

  • free of particular average — marine cargo insurance that does not cover partial losses or partial damage unless caused by the vessel being sunk, stranded, burned, on fire, or in a collision. Bloomberg Financial Dictionary * * * free of particular average ˌfree of parˌticular …   Financial and business terms

  • with particular average — ( WPA) See: with average …   Financial and business terms

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