„General Average“

1. loss that affects all cargo interests on board a vessel as well as the ship herself.

2. An internationally accepted rule of the sea which says when a peril threatens the survival of the ship, there may be sacrificed (thrown overboard) any cargo or supplies or ships’ furnishings, and any expense incurred necessary to save the ship. If the vessel is saved, all cargo owners, ship owner, and owners of the freight revenue share pro rata in the loss.

Source:

Chorafas, Dimitris N. “Marine cargo insurance.” St. James Press, 1992.