Why do I need to provide Average Bond, if Maersk will be placing security on my behalf?
The ‘Average Bond’ establishes the identity and contact details of the receiving party in order to make contact after delivery, if necessary, regarding information about the goods. Further, the GA bond establishes a promise to pay, which in case of Value Protect cover will be fulfilled by Maersk.
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Related FAQs
What happens in case of General Average? Will I have to provide a bank guarantee or other documents? Why would I need to worry about the safety of my cargo when I ship with Maersk? Can I protect my cargo financially against accidental damage during its cold journey with Maersk? When can I add Value Protect to my booking? Can Value Protect be applied to all commodities? If I have insurance already, why should I buy Value Protect? How will I receive an invoice for Value Protect? Which documents are required to submit the claim? Can I purchase Value Protect for Break Bulk cargo? What happens if the repair costs exceed the protected limit? Is Value Protect insurance?New to Maersk.com?
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