With all the recent troubles for cargo vessels these days, General Average is becoming a household term for most supply chain professionals. At any point during its voyage, a vessel could get stuck, become disabled, or catch fire, each of which could lead to a declaration of General Average.
In February, we featured ECIB’s Senior Manager of Risk Management, Ian Buchanan, on the Expeditors Podcast to share his thoughts and background on the subject. As a follow-up, our experts have created a whitepaper that provides a simple, straightforward explanation of the General Average process. You will learn what General Average is, examples of when it may apply, what happens when declared, and how General Average situations are resolved.
Fully understanding this process can help you avoid unforeseen delays and costs if you find yourself and your goods involved in a General Average in the future. Download your copy today, and reach out to ECIB if you would like to discuss additional ways to protect and optimize your organization’s supply chain more in-depth.