General & Particular Average in Maritime Commerce
Course Info
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Course Details
Introduction
Objective
Who should attend
Course Location
General and Particular Average in Maritime Commercial Practices is a targeted course tailored for professionals engaged in maritime commerce. It covers the essential practices and procedures following Particular Average loss incidents, emphasising the crucial initial steps such as issuing a 'Note Protest', conducting damage surveys, and complying with the 'Tender Clause'.
The course focuses on understanding the liabilities and costs associated with the 'Hull', including repair cost calculations under the 'New for Old' principle. It also addresses the specific considerations when drydocking involves such incidents.
Furthermore, it explores the evaluation of cargo damage, highlighting the need to ascertain the value difference of goods pre and post-damage and the significance of meeting any 'franchise' conditions outlined in insurance policies.
This course is designed to provide maritime commerce professionals with a concise yet comprehensive understanding of the critical aspects of General and Particular averages in maritime operations, equipping them with the necessary knowledge to navigate these challenges effectively.
Course Outline
Foundations and Principles
- Ships and Shipping Markets: An overview.
- Cargo Insurance Choices: Understanding options and impacts.
- Average Adjusting Alternatives: Exploring different approaches.
- Contracts of Carriage at Sea: Key legal considerations.
- Jettison of Cargoes: Procedures and implications.
- For the Common Good Concept: An introduction to collective responsibility in maritime practices.
