salvage agreement

The form originated in the late 19th century and is the most common such form of international salvage agreement.

At the top of page one, beneath the title "Salvage Agreement" is a statement of the contract's fundamental premise.

A salvage agreement was made with Titan Salvage under Lloyd's Open Form rules, but it was later decided that the ship was a constructive total loss.

However, there are vessels standing by, crewed by professional salvors under a salvage agreement in Lloyd's Open Form (LOF).

OceanMar, who had extensively researched the Islander asserted that the wreck had never been abandoned and their Salvage Agreement which was with the original insurers consequently took precedence.

A Lloyd's Open Form, formally Lloyd's Standard Form of Salvage Agreement, but more commonly referred to as LOF, is a standard legal document for a proposed marine salvage operation.

Trying to salvage agreement at the end of a turbulent six-month European Community presidency that has seen member states' economies and currencies driven apart by the pressures of recession, Britain has proposed a formal decision by the leaders here to give the Danes what they want.