Maritime Glossary
General Average
Also known as: GA
A maritime law principle requiring all parties in a sea venture to proportionally share losses from a voluntary sacrifice made to save the voyage.
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Full Definition
Under the York-Antwerp Rules, if a master makes a voluntary sacrifice (jettisoning cargo, flooding a hold to fight fire, emergency towage) to save the ship and cargo, all interests contribute proportionally to the loss. The shipowner appoints an average adjuster to assess and apportion the claim. Cargo interests must provide a GA bond and cash deposit or P&I guarantee before cargo is released. GA remains relevant in salvage and serious casualty situations.
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