York-Antwerp Rules
The private code that decides how general average is adjusted.
Definition
A voluntary international code, maintained by the Comité Maritime International, that states what qualifies as a general average act and how the contribution is calculated. It is structured as lettered Rules A to G, which set the principles, and numbered Rules I to XXIII, which deal with specific situations; where the two conflict, the numbered rules prevail except as provided by the Rule Paramount, which requires the sacrifice or expenditure to have been reasonably made. The 2016 edition was adopted on 6 May 2016; earlier editions, particularly 1994 and 2004, remain in force wherever a bill of lading incorporates them.
Why it decides money
Which edition the bill of lading names changes what is allowable and therefore what you contribute. It is one of the few places where reading the back of a transport document pays for itself.
Related terms
- General average
- A shared bill when something is sacrificed to save the whole venture.
- General average bond and guarantee
- The security you post to get your cargo released after a GA declaration.
More in law and duties
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