Average Adjuster
The professional who prepares the general average adjustment under the York-Antwerp Rules, values each interest and holds cash deposits.
An average adjuster prepares the general average adjustment: it values the ship, cargo and freight, decides what is allowed in general average, and calculates each interest’s contribution. Under the York-Antwerp Rules 2016 the adjuster may deem the commercial invoice to reflect cargo’s value at discharge, may exclude cargo whose inclusion would cost more than its contribution (Rule XVII), and holds cash deposits in a special account (Rule XXII).
The full article will cover the adjuster’s appointment and duties, the rules of practice, the adjustment timetable, and the relationship with cargo underwriters and average bonds. The cargo insured value article covers how this topic affects the sum insured on a cargo policy.