Shipping Law Handbook

Page 659


Salvage, towage and general average

H.1 Introduction


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).

Copyright © 2024 Maritime Insights & Intelligence Limited. Maritime Insights & Intelligence Limited is registered in England and Wales with company number 13831625 and address 5th Floor, 10 St Bride Street, London, EC4A 4AD, United Kingdom. Lloyd's List Intelligence is a trading name of Maritime Insights & Intelligence Limited.

Lloyd's is the registered trademark of the Society Incorporated by the Lloyd's Act 1871 by the name of Lloyd's.