Free of particular average
From Supply Chain Management Encyclopedia
Free of particular average (FPA) means a marine insurance term meaning that the assurer will not allow payment for partial loss or damage to cargo shipments except in certain circumstances, such as stranding, sinking, collision or fire [1]. See Table 1. below.
See also particular average insurance, marine insurance
References
- ↑ Glossary of Shipping Terms, Maritime Administration, Washington, DC, 2008 - www.marad.dot.gov/documents/Glossary_final.pdf