- Industry: Government
- Number of terms: 13754
- Number of blossaries: 0
- Company Profile:
This type of clause covers merchandise if the damage amounts to three percent or more of the insured value of the package or cargo. If the vessel burns, sinks, or collides, all losses are fully covered. In marine insurance, the word average describes partial damage or partial loss.
Industry:Transportation
Customs form used to control cargo movement from port of entry to port of exit, meaning that the cargo is moving from one country, through the United States, to another country.
Industry:Transportation
A maritime term referring to fuel used aboard the ship. In the past, fuel coal stowage areas aboard a vessel were in bins or bunkers.
Industry:Transportation
This type of insurance offers the shipper the broadest coverage available, covering against all losses that may occur in transit.
Industry:Transportation
Water transportation term applicable to shipments between ports of a nation; commonly refers to coastwise or intercoastal navigation or trade. Many nations, including the United States, have cabotage laws which require national flag vessels to provide domestic interport service.
Industry:Transportation
In water transportation, the deliberate sacrifice of cargo to make the vessel safe for the remaining cargo.Those sharing in the spared cargo proportionately cover the loss.
Industry:Transportation
In railcar or container shipments, the weight of the empty railcar or empty container.
Industry:Transportation
A charge, expressed as a percentage of a base rate, that is applied to compensate ocean carriers of currency fluctuations.
Industry:Transportation
A Marine insurance term which refers to partial loss on an individual shipment from one of the perils insured against, regardless of the balance of the cargo. Particular–average insurance can usually be obtained, but the loss must be in excess of a certain percentage of the insured value of the shipment, usually three to five percent, before a claim will be allowed by the company.
Industry:Transportation
