Glossary

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General Average

General average. In the case of general average, the common interest - retaining vessel and cargo - takes precedence. Any sacrifices made by the captain are made in the name of common interest, so that it is obvious that every interested party bears a proportional share of the damage, which otherwise would have been at the expense of one of the interested parties. According to the York-Antwerp rules of 1950, the official definition of general average is: 'A general average act is when - and only when - an intentional and reasonably exceptional sacrifice or expenditure is made in the name of general protection, with the objective of safeguarding the goods involved in a common business against danger at sea'.

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