A General Average situation occurs when, at the time of peril, expenses are deliberately incurred or losses suffered in order to protect the common property involved in a marine adventure. As a result, these losses and expenditures are shared among the parties involved in accordance with a set of Rules known as the York-Antwerp Rules, as part of an international maritime regime as applied independently of insurance. The most recent version was issued in 2004, although other earlier versions are still in common usage.

General Average can be a very confusing development and, in the case of a container vessel, will involve thousands of interests. Braden Marine provides guidance for the benefit of all parties to the adventure and advises on the necessary steps to be taken and the securities to be provided.

Ultimately, and upon the successful completion of the adventure, a statement of General Average will be drawn up by Braden Marine that details the contribution required from each party.

This is a very specialized area of marine commerce, and the assistance of Braden Marine, as qualified General Average Adjusters is indispensable. As the appointed General Average adjuster, Braden Marine will collect this General Average security and seek the contributions due from each party.