Maritime Act Article 113

The amount of reimbursement for general average sacrifices shall be decided on the basis of the actual net value of the various properties preserved at the time and place where the voyage is terminated or the abandonment of the common adventure, and determined as following:1. The amount of sacrifice of the ship shall be the reasonable cost of the repairs or replacement of ship’ machinery, gear and equipment actually and necessarily incurred. Where there has not been repaired or replaced, the reasonable depreciation but not exceeding the estimated cost of repairs or replacement.2. The amount of a general average sacrifice to cargo shall be assessed on the bases of the commercial invoice rendered to the last receiver of the cargo; or if there is no such invoice, shall be the value on the bases of at the time and place of loading, plus the cost of insurance and freight to be paid. Where the damaged cargo has been sold, The amount of a general average sacrifice shall be on the basis of the difference between the net proceeds of sale and the net assessed on the bases of the commercial invoice or at the time and place of loading.3. The amount of a general average sacrifice for freight shall be assessed on the basis of the lessened or lost amount owing to the damage to or loss of the cargo. Provided however that any expenses therefore saved by the carrier hall be deducted.