Average Particular
Particular average comprises the costs and/or damage that are exclusively borne by the shipowner whose vessel is damaged (e.g. storm damage) or by the owner of the cargo that has been damaged (e.g. as a result of a leak). In contrast with general average, particular average does not involve a common interest.
Related terms
Third Party Logistic Model (3PL) ›
Measuring three times ›
Keel ›