Web Alert: York Antwerp Rules 2016 - where are we now?
18 February 2016
Further to the club’s previous web-alert on general average (GA) and the York Antwerp Rules (YAR), the club understands that there is yet to be a final agreement on the form of the next version of the YAR, namely the YAR 2016.
However, early indications appear to be as follows on the below kew areas:
- Salvage: This is excluded from GA under YAR 2004. The proposed draft YAR 2016 will include salvage in GA but only in certain circumstances where leaving salvage to lie where it falls would lead to an inequitable result. We understand that this will generally mean that salvage will not be included in GA unless, for example, there is a subsequent accident which results in significant differences between salved and GA contributory values.
- Crew wages and maintenance (while detained at a port of refuge):
This is excluded from GA under YAR 2004. Under the proposed draft YAR 2016, wages and maintenance will be allowed while detained at a port of refuge.
- Commission of 2%: This was removed under YAR 2004. The proposed draft YAR 2016 includes commission at 2%. The club understands that this remains the subject of extensive review, and may possibly be dispensed with.
- Rate of GA interest: This was set at 7% under YAR 2004. The proposed draft YAR 2016 includes a rate fixed annually by the CMI. The club understands that this is still under review.
The club understands that further matters may still be under consideration and are yet to be finalised. The CMI’s next conference will be held in New York in May 2016.
The club will continue to monitor developments and keep members advised of any changes.