A signed undertaking given by cargo receivers stating that, in return for delivery to them or to their order of the goods noted in the bond, they agree to pay the proper proportion of any general average charges (and salvage or special charges) which may thereafter be ascertained to be due from the goods. Lloyd's Average Bond form (LAB 77) is normally used.


Compensation for a salvor who has carried out salvage operations in respect of a vessel which, by itself or its cargo, threatened damage to the environment but where the salvor has failed to earn a reward under Article 13 of the Salvage Convention at least equivalent to the special compensation assessable under Article 14. It was introduced into the 1989 Salvage Convention as an incentive to professional salvors to stay in the salvage business, since so many were leaving it due to low salvage rewards failing to cover high salvage costs.

Statutory enforcement notices used in the UK (and some other countries) to enforce (chiefly) health and safety legislation. A Prohibition Notice prohibits an unsafe operation or the use of an unsafe item of equipment, and an Improvement Notice requires specified improvements to bring health and safety arrangements up to regulation standard within a specified period. Non- observance of their requirements leads to a prosecution by the issuing body.

A business entity acting as a local agent for one or more (and often several) carriers, and whose main function is procuring bookings of shipping space from local shippers. Major carriers maintain a network of liner agents in the main cities of countries served by their services.


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