In the determination of the apportionments of general average, the value of a ship shall be its value at the time and place of arrival, and the value of cargo shall be its value at the time and place of unloading: Provided, That in regard to the cargo, the freight exempted from payment due to the damage and other expenses shall be deducted from its value.[This Article Wholly Amended by Act No. 8581, Aug. 3, 2007]
Laws › Commercial Act › SECTION 1 General Average
Commercial Act — Article 867 (Calculation of Apportionments of General Average)
상법 제867조
This English translation is based on the Korean text effective 2018-12-19. The Korean law has since been amended (current version effective 2026-09-10) — check the Korean original.
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