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CHAPTER 39 The Insurance of Average Disbursements

York Antwerp Rules

Page 260 CHAPTER 39 The Insurance of Average Disbursements Introduction 39.01 The main feature which distinguishes the remuneration payable to salvors from other items of general average expenditure is the necessity imposed upon the salved interest by maritime law or by the terms of the salvage agreement to provide appropriate security to the salvors on completion of the salvage services. The effect of this is to place the salved interests at risk for the amount of the salvage remuneration (up to the guaranteed amounts), irrespective of the successful outcome of the adventure.

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