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General average is a maritime law principle that involves sharing the losses incurred during a voyage among all parties involved in the journey, typically when a voluntary sacrifice is made to save the ship and cargo from a common peril. For instance, if cargo is jettisoned to save the ship, the loss is distributed among all cargo owners. In contrast, particular average refers to losses that are specific to an individual party's cargo or property, not shared by others, and typically covered by their own insurance. This means that if a particular shipment is damaged, the owner bears the loss without seeking compensation from others.

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1w ago

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