average statement

average statement

A marine biologist records an average statement after surveying the coral reef.

Definition
  1. Noun:
    • A documented assessment of maritime damage: "average statement" refers to a formal written document prepared by an average adjuster that calculates and apportions the financial losses and expenses incurred during a sea voyage, typically for the purpose of insurance claims or general average contributions.
Usage Examples
  • (A formal document assessing maritime damage.)
  • (A written calculation of losses at sea.)
Advanced Usage
  • "to prepare an average statement": to compile and issue the formal document.
    • The adjuster must prepare an average statement within 30 days of the incident. (To create the official damage assessment.)
  • "to file an average statement": to submit the document for insurance or legal proceedings.
    • The captain filed an average statement with the port authorities. (To officially lodge the damage report.)
Variants and Related Words
  • Average adjuster (n): a specialist who calculates and prepares average statements.
    • The average adjuster examined the ship's logs to draft the average statement. (The professional expert in maritime loss assessment.)
  • General average (n): a principle of maritime law where all parties share the losses from a voluntary sacrifice to save a vessel.
    • The average statement detailed the general average contributions required from each cargo owner. (The document for shared maritime losses.)
Synonyms
  • Maritime damage report: a formal written record of losses at sea.
  • Average adjustment document: the official paper outlining the apportionment of losses.
Related Idioms
  • "to declare general average": to invoke the maritime principle requiring shared loss contributions.
    • The captain declared general average after jettisoning cargo to save the ship, prompting the need for an average statement. (To formally initiate the process of shared loss assessment.)
  • "to be in average": to be subject to maritime loss adjustments.
    • The damaged goods were in average, so the owner had to wait for the average statement. (To be part of the loss calculation process.)