York-Antwerp rules of General Average

The York-Antwerp Rules are a set of international principles governing general average in maritime law. General average refers to losses or damages that are voluntarily incurred to save the entire maritime venture—ship, cargo, and freight—from a common peril, such as a storm. When such sacrifices are made, the owners of the property saved must contribute proportionally to compensate the owner of the property sacrificed.12

These rules, first established in 1890 and last amended in 1950, are not laws themselves but are incorporated into charter parties and bills of lading, making them legally binding for the parties involved. They ensure that all stakeholders share the burden of extraordinary sacrifices made for the common good of the voyage.312