Common Contracts
1 similar Salvage Agreement contracts
THE JURIDICAL REGIME OF THE SALVAGE AGREEMENT LOF 2000Salvage Agreement • December 14th, 2010
Abstract: Lloyd’s Standard Form of Salvage Contract, otherwise known as Lloyd's Open Form (LOF), celebrates its centenary in 2008. After 100 years of use in marine emergencies around the world, LOF remains the most frequently used form of salvage agreement. The International Salvage Union (ISU) represents the global salvage industry. ISU members are responsible for well over 90 per cent of all salvage activity. In 1978 the ISU began to publish annual salvage statistics. In the 1978-2005 period, ISU members performed 5,135 salvage operations – 2,701 of which were carried out under LOF contracts.
