GENERAL AND PARTICULAR AVERAGE Clause Samples

The General and Particular Average clause defines how losses or expenses incurred during maritime transport are shared among stakeholders. In practice, general average refers to losses or costs that are intentionally incurred for the common safety of the ship and cargo, such as jettisoning cargo to save a vessel, and these are apportioned among all parties with an interest in the voyage. Particular average, on the other hand, covers partial losses that affect only specific cargo or interests, and are borne solely by the owner of the affected property. This clause ensures a fair and standardized method for distributing financial responsibility for losses, thereby reducing disputes and providing clarity in the event of maritime incidents.
GENERAL AND PARTICULAR AVERAGE. Whenever necessary, average adjusters shall be appointed by the Charterer, who shall, at the Charterer's sole cost and expense, attend to the settlement and collection of both general and particular average losses.
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GENERAL AND PARTICULAR AVERAGE. General average if any shall be adjusted according to the York-Antwerp Rules 1994 or any subsequent modification thereof current at the time of the casualty.
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GENERAL AND PARTICULAR AVERAGE. General average, if any, shall be adjusted, stated, and settled according to the York-Antwerp Rules (2004) or any subsequent modification thereof current at the time of the relevant casualty. The DAILY COMPENSATION FEE shall not contribute to general average. A company approved by both PARTIES shall be appointed average adjuster to attend to the settlement and collection of both general and particular average losses subject to customary charges. CONTRACTOR, COMPANY jointly agree to assist the adjuster in preparing the average statement and to take all other possible measures to protect the interests of CONTRACTOR, and COMPANY.
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GENERAL AND PARTICULAR AVERAGE. 28 28. SALVAGE............................................................................................... 28 29. AUDIT................................................................................................. 29 30. DEFAULT............................................................................................... 29 31. REMEDIES.............................................................................................. 29 32. MISCELLANEOUS......................................................................................... 32 Appendix A TECHNICAL DESCRIPTION AND SPECIFICATIONS Appendix B-1 FORM OF LESSOR PARENT COMPANY GUARANTY AND INDEMNITY Appendix B-2 FORM OF PERFORMANCE GUARANTY Appendix C-1 PURCHASE PRICE Appendix C-2 PURCHASE PRICE Appendix D-1 INITIAL PERFORMANCE TESTS Appendix D-2 FINAL PERFORMANCE TESTS Appendix E QUIET ENJOYMENT LETTER
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GENERAL AND PARTICULAR AVERAGE. General average, if any, shall be adjusted, stated, and settled according to the York-Antwerp Rules (2004) or any subsequent modification thereof current at the time of the relevant casualty. The DAILY COMPENSATION FEE shall not contribute to general average. A company approved by both PARTIES shall be appointed average adjuster to attend to the settlement and collection of both general and particular average losses subject to customary charges. OWNER and COMPANY jointly agree to assist the adjuster in preparing the average statement and to take all other possible measures to protect the interests of OWNER, FPSO and COMPANY. 18 REDELIVERY OF FPSO The FPSO shall be deemed to have been redelivered (“DATE OF REDELIVERY”, for which COMPANY shall give OWNER at least 90 (ninety) days’ prior notice) and the DAILY COMPENSATION FEE shall cease when production at the AREA OF OPERATIONS is finally shut-in and COMPANY has removed the cargo from the FPSO. The FPSO shall from the DATE OF REDELIVERY be dismantled and removed from the AREA OF OPERATIONS by OWNER, and its ancillaries recovered, and towed and/or transported to a port/area to be agreed and cleaned and gas-freed. Compensation for such removal, towing, transportation etc. shall be paid in accordance with Clause 25.3 and Clause 1.3 of Section III - CHARTERPARTY Prices and Schedules for Variations.
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GENERAL AND PARTICULAR AVERAGE. 24- 28. SALVAGE . . . . . . . . . . . . . . . . -24- 29. AUDIT . . . . . . . . . . . . . . . . . -24- 30. DEFAULT . . . . . . . . . . . . . . . . -24- 31. REMEDIES. . . . . . . . . . . . . . . . -25- 32. MISCELLANEOUS . . . . . . . . . . . . . -27- Appendix A TECHNICAL DESCRIPTION AND DESIGN BASIS Appendix B-1 FORM OF JOINT VENTURER GUARANTEE AND INDEMNITY Appendix B-2 FORM OF LESSOR PARENT COMPANY GUARANTEE AND INDEMNITY Appendix C PURCHASE OPTION PRICE BAREBOAT CHARTER This Bareboat Charter (this "Agreement"), made and entered into as of the 9th day of February 1996, by and between Tantawan Production B.V., a Netherlands corporation("Lessor"), and Tantawan Services, L L C, a Delaware limited liability company ("Charterer"), acting through its Thai branch.
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GENERAL AND PARTICULAR AVERAGE. 25 28. SALVAGE............................................................................................... 25 29. AUDIT................................................................................................. 25 30. DEFAULT............................................................................................... 26 31. REMEDIES.............................................................................................. 26 32. MISCELLANEOUS......................................................................................... 28 Appendix A TECHNICAL DESCRIPTION AND DESIGN BASIS Appendix B1 FORM OF JOINT VENTURER GUARANTEE AND INDEMNITY Appendix B2 FORM OF LESSOR PARENT COMPANY GUARANTEE AND INDEMNITY Appendix C1 Appendix C2
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GENERAL AND PARTICULAR AVERAGE. Average adjusters, appointed by Cha▇▇▇▇▇▇ ▇▇om a list of adjusters satisfactory to Owner, shall attend to the settlement and collection of both general and particular average losses subject to the customary charges. Cha▇▇▇▇▇▇ ▇▇rees to assist the adjuster in preparing the average statement and to take all other possible measures to protect the interests of the Vessel and Owner.
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