Shipping Law Handbook

Michael Bundock

Document

Page 659

PART H

Salvage, towage and general average

H.1 Introduction

Salvage

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.

Page 660

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 , together with the previous version of LOF (LOF 2000).

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