Glossary Logistics / Term
A provision in a marine cargo insurance policy that no claim shall be paid for damage to goods in the course of a voyage unless a loss is sustained that totals or exceeds a certain percentage of the value as specified in the policy. The object of such a provision is the avoidance of petty claims.
Permanent link Marine Cargo Insurance - FPA (Free of Particular Average) - Creation date 2021-12-06