This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.
Salvage, towage and general average
Lloyd’s Open Form and the English law of salvage
This part of this work sets out the materials to which reference is most usually made in relation to claims for salvage. The standard forms are of particular importance. In the absence of a salvage agreement, a reward for rendering salvage services may be claimed at common law.
In practice, however, there will usually be a salvage contract, particularly in circumstances where professional salvors are involved. Several standard forms of salvage agreement are in use; by far the most common is Lloyd’s Standard Form of Salvage Agreement “No Cure – No Pay”, often referred to as Lloyd’s Open Form (LOF). The form has been revised several times since its introduction in the nineteenth century; a Lloyd’s committee now meets annually to consider whether any amendments are necessary. The basic agreement (LOF 2011) is separated from the detailed provisions, which are set out in Lloyd’s Standard Salvage and Arbitration Clauses (the LSSA Clauses). Both are printed in Part H , together with the previous version of LOF (LOF 2000).
The rest of this document is only available to i-law.com online
If you are already a subscriber, please enter your details below to log in.