Search results
Results from the WOW.Com Content Network
The Nagasaki Spirit [1997] [1] [2] is an English admiralty law case on marine salvage and on the provisions of Article 13 and 14 of the 1989 Salvage Convention.. The case identified problems with the drafting of the convention, a response to which was the 2000 SCOPIC codicil which may be attached to the Lloyd's Open Form ("LOF") to vary the terms of the salvage reward.
The Lloyd's Open Form, formally "Lloyd's Standard Form of Salvage Agreement", and commonly referred to as the LOF, is a standard form contract for a proposed marine salvage operation. Originating in the late 19th century, the form is published by Lloyd's of London and is the most commonly used form for international salvage.
The International Convention on Salvage [1] [2] is a treaty that was concluded in London on 28 April 1989 that replaced the Brussels Convention on Assistance and Salvage at Sea as the principal multilateral document governing marine salvage.
The scope of salvage has been expanded by the 1989 Salvage Convention, and protection of the environment is part of salvage. Oil pollution can cause damage to the environment. If the salvor prevents oil pollution from happening, he indeed performs a valuable service to the community as mentioned by (1997) 1 Lloyd's Rep 323 (HL), pp. 326–328.
A policy will usually include a "sue and labour" clause which will cover the reasonable costs incurred by a shipowner in his avoiding a greater loss. At sea, a ship in distress will typically agree to "Lloyd's Open Form" with any potential salvor. The Lloyd's Open Form (LOF) is the standard contract, although other forms exist.
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. [1] Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure.
The meet’s head referee implemented Rule 2, Section 5 of the NCAA rulebook, which states that “a swimmer who changes lanes during a heat shall be disqualified,” leading to Lloyd’s ...
A grandfather clause (or grandfather policy or grandfathering) is a provision in which an old rule continues to apply to some existing situations while a new rule will apply to all future cases. Those exempt from the new rule are said to have grandfather rights or acquired rights , or to have been grandfathered in .