| Garbling |
The removal of damaged tobacco from a bale which contains a quantity of sound tobacco. This prevents further loss and provided the damage is from an insured peril insurers pay the cost for garbling. |
| General Average |
The term ‘average’ is used in marine insurance in connection with partial loss. When related to ‘particular average’ it is concerned only with accidental damage to insured property. When used in connection with ‘general average’ it can relate to deliberate sacrifice of property, GA expenditure and GA contribution. General average is a ‘rule of the sea’ and is incorporated in all contracts of carriage. It applies, therefore, to property at risk in a common adventure, whether or not the property is insured. It can be applied, also, the freight being earned by a ship operation whose ship is involved in a GA act. The saving of life or personal effects is not included in a GA adjustment.General average is a principle whereby all parties to an adventure, who benefit from the sacrifice or expenditure, must contribute to make good the amount sacrificed or the expenditure incurred. |
| General Average Contribution |
A payment by one of the parties involved in a general average adjustment toward the average fund. The contribution is based on the contributory value of the interest and is such proportion of the fund as the contributory value of the individual interest bears to the total of the contributory values of all the interests that contribute to make good the GA loss. |
| General Average Fund |
A fund created by the shipowner and Average Adjuster jointly from the deposits collected in respect of a general average adjustment. Interest accrues in the fund on the deposits and is credited to the depositors. The shipowner may be allowed to draw direct on the fund for general average expenditure without awaiting the final adjustment. |
| General Average Guarantee |
In the American market the term “average bond” is used to describe a general average guarantee. When a consignee is required to furnish a general average deposit he may call upon the insurer of the goods to pay the deposit for him. The insurer is not obliged to do this. Alternatively, the consignee may request an underwriter’s guarantee. The insurer may agree but he may wish to qualify the guarantee to ensure that he is not held liable for more than the proper amount due under the policy (see “General Average Contribution”). |
| General Average Loss |
A loss or damage to the insured interest directly consequential on a general average act. It includes both expenditure and sacrifice. |
| General Average Sacrifice |
The sacrifice of property exposed to risk in a marine adventure in time of peril for the purpose of preserving the remainder of the interests from a total loss. |
| Germanischer Lloyd |
This is a German Classification Society. Vessels registered with Germanishcer Lloyd may appear in Lloyd’s Register with the notation GL. The cypher to denote full class in the Germanisher Lloyds Register is 100A4. |
| Gross Regional Tonnage |
The tonnage of a ship as registered before deduction of light and air spaces, machinery and navigating spaces and other parts of the vessel to arrive at the net registered tonnage. Port charges, canal dues and other charges are based on the net registered tonnage . This form of tonnage is not calculated on weight but on 100 cubic feet per registered ton or at 1,000 cubic centimetres per ton if based on metric tons. The gross tonnage of a warship is her displacement tonnage, calculated by the cubic area occupied by the vessel below the water line at 33 cubic feet per ton. |
| Groupage |
A system whereby relatively small units of cargo are grouped together to be stuffed into a container. |
