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Under the LOF contracts, the parties submit to the jurisdiction of a Lloyd's arbitrator to determine the amount of award. But salvage is also a remedy that arises independently of a contract. A salvage claim, outside the LOF arbitration agreement, can be brought in the Admiralty Court and is defined under CPR r 61.1 (2) (f) to mean:
The common law concept of salvage was established by the English Admiralty Court and is defined as "a voluntary successful service provided in order to save maritime property in danger at sea, entitling the salvor to a reward"; this definition has been further refined by the 1989 Convention.
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.
Shipping was one of the earliest channels of commerce, and rules for resolving maritime trade disputes were developed early. An ancient example was the Rhodian law (Nomos Rhodion Nautikos), of which no extensive written specimen has survived, but which is alluded to in other legal texts (Roman and Byzantine legal codes), and later the customs of the Consulate of the Sea and the Hanseatic League.
In the United States, the federal district courts have jurisdiction over all admiralty and maritime actions; see 28 U.S.C. § 1333.. When the U.S. Navy or Marine Corps is involved in an admiralty incident, the Secretary of the Navy has authority for administrative settlement and payment of claims involving the Department of the Navy. [1]
The Brussels Convention for the Unification of Certain Rules with Respect to Assistance and Salvage at Sea (French: Convention pour l'unification de certaines règles en matiere assistance et de sauvetage maritimes) is a treaty on marine salvage that was concluded on 23 September 1910, in Brussels, Belgium.
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The International Convention on Salvage expanded on this principle by introducing the concept of an "enhanced salvage award", which may be awarded by an arbitrator or a tribunal if the salvor took effective action to prevent or minimize environmental damage but nevertheless failed to salvage the ship or its cargo.