GROUP Definition

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GROUP is a number of individual companies assembled together; often having some unifying relationship.

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PRO-FORMA is to provide in advance to a prescribed form or to describe item, e.g. pro forma financial statement or pro forma invoice.

GENERAL AVERAGE is the provision 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.

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