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General Average |
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General AverageProvision in maritime law where all shippers on a given voyage would reimburse the ship line in the event of vessel sinking or catastrophic damage. It also provides for the reimbursement to those shippers whose cargo was thrown overboard in order to save the vessel.General Average Similar MatchesGeneral obligation bondGeneral obligation bondA municipal bond whose interest and principal payments are supported by the full faith and credit of the issuing authority. General Agreement on Tariffs and TradeGeneral Agreement on Tariffs and TradeA trade agreement between a large number of countries, dating back to 1948, which was set up to improve trading world wide and to work towards the reduction of tariff barriers. General Agreement on Tariffs and TradeGeneral Agreement on Tariffs and TradeA multilateral treaty entered into in 1948 by the intended members of the International Trade Organization, the purpose of which was to implement many of the rules and negotiated tariff reductions that would be overseen by the ITO. With the failure of the ITO to be approved, the GATT became the principal institution regulating trade policy until it was subsumed within the WTO in 1995. General lienGeneral lienThe legal right for a creditor to seize the assets of a debtor to satisfy an outstanding debt. Generalized System of PreferencesGeneralized System of PreferencesTariff preferences for developing countries, by which developed countries let certain manufactured and semi-manufactured imports from developing countries enter at lower tariffs than the same products from developed countries. Further Suggestionsgeneral personal equity planannual general meeting Computable general equilibrium General equilibrium General ledger General cash offer extraordinary general meeting General Agreement on Trade in Services General partnership General lien Director General General partner Generally Accepted Accounting Principles (GAAP) General Agreement on Tariffs and Trade (GATT) General Mortgage Bond General Order General revenue General Membership General Average Contribution General Lien |
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