General Average: York-Antwerp Rules 2016
Overview
BIMCO documents currently contain general average clauses that refer either to the York-Antwerp Rules (YAR) 1994 or, to a lesser extent, the YAR 1974. BIMCO’s recommendation in respect of new and revised charter parties, bills of lading and waybills has so far been that general average should be adjusted in accordance with the YAR 1994.
A new set of YAR 2016 was adopted by the Assembly of the Comité Maritime International (CMI) at its 42nd International Conference held from 3rd to 6th May 2016 in New York. As the YAR 2016 are considered to represent a set of Rules that BIMCO could refer to in its standard documents, BIMCO’s Documentary Committee decided, at its meeting on 10th May 2016, that all new and revised BIMCO charter parties, bills of lading and waybills will now refer to general average being adjusted in accordance with the York-Antwerp Rules 2016. References to earlier versions of the YAR in existing BIMCO documents will gradually be replaced by a reference to the YAR 2016 in the online versions of these documents.
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Posted:
23 May 2016
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