LOF 2000

Lloyd’s Standard Form of Salvage Agreement(Approved and Published by the Council of Lloyd’s)

NO CURE – NO PAY

1Name of the salvage Contractors:

2

Property to be salved:
The vessel:
her cargo freight bunkers stores and any otherproperty thereon but excluding the personal
effects or baggage of passengers master or crew(referred to in this agreement as “the property”)(referred to in this agreement as “the Contractors”)
3

Agreed place of safety:

4

Agreed currency of any arbitral award and security(if other than United States dollars)5Date of this agreement

6Place of agreement

7

Is the Scopic Clause incorporated into this agreement?

State alternative: Yes/No

8

Person signing for and on behalf of theContractors

Captain9or other persons signing for an on behalf of theproperty

Signature:

Signature:A

Contractors’ basic obligation: The Contractors identified in Box 1 hereby agree to use their best endeavours
to salve the property specified in Box 2 and to take the property to the place stated in Box 3 or to such otherplace as may hereafter be agreed. If no place is inserted in Box 3 and in the absence of any subsequent
agreement as to the place where the property is to be taken the Contractors shall take the property to a placeof safety.

B

Environmental protection: While performing the salvage services the Contractors shall also use their best
endeavours to prevent or minimise damage to the environment.

CScopic Clause: Unless the word “No” in Box 7 has been deleted this agreement shall be deemed to havebeen made on the basis that the Scopic Clause is not incorporated and forms no part of this agreement. If theword “No” is deleted in Box 7 this shall not of itself be construed as a notice invoking the Scopic Clause within
the meaning of sub-clause 2 thereof.

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DEffect of other remedies: Subject to the provisions of the International Convention on Salvage 1989 asincorporated into English law (“the Convention”) relating to special compensation and to the Scopic Clause if
incorporated the Contractors services shall be rendered and accepted as salvage services upon the principle of“no cure - no pay” and any salvage remuneration to which the Contractors become entitled shall not bediminished by reason of the exception to the principle of “no cure - no pay” in the form of special compensation
or remuneration payable to the Contractors under a Scopic Clause.

E

Prior services: Any salvage services rendered by the Contractors to the property before and up to the date ofthis agreement shall be deemed to be covered by this agreement.

F

Duties of property owners: Each of the owners of the property shall cooperate fully with the Contractors. In
particular:
ithe Contractors may make reasonable use of the vessel’s machinery gear and equipment free of expense
provided that the Contractors shall not unnecessarily damage abandon or sacrifice any property on board;ii the Contractors shall be entitled to all such information as they may reasonably require relating to thevessel or the remainder of the property provided such information is relevant to the performance of theservices and is capable of being provided without undue difficulty or delay;iii the owners of the property shall co-operate fully with the Contractors in obtaining entry to the place ofsafety stated in Box 3 or agreed or determined in accordance with Clause A.

G. Rights of termination: When there is no longer any reasonable prospect of a useful result leading to asalvage reward in accordance with Convention Articles 12 and/or 13 either the owners of the vessel or theContractors shall be entitled to terminate the services hereunder by giving reasonable prior written notice to theother.
H

Deemed performance: The Contractors’ services shall be deemed to have been performed when the property
is in a safe condition in the place of safety stated in Box 3 or agreed or determined in accordance with clauseA. For the purpose of this provision the property shall be regarded as being in safe condition notwithstandingthat the property (or part thereof) is damaged or in need of maintenance if (i) the Contractors are not obliged toremain in attendance to satisfy the requirements of any port or habour authority, governmental agency orsimilar authority and (ii) the continuation of skilled salvage services from the Contractors or other salvors is nolonger necessary to avoid the property becoming lost or significantly further damaged or delayed.

IArbitration and the LSSA Clauses: The Contractors remuneration and/or special compensation shall bedetermined by arbitration in London in the manner prescribed by Lloyds Standard Salvage and Arbitration
Clauses (“the LSSA Clauses”) and Lloyd’s Procedural Rules. The provisions of the LSSA Clauses and Lloyd’s
Procedural Rules are deemed to be incorporated in this agreement and form an integral part hereof. Any other
difference arising out of this agreement or the operations hereunder shall be referred to arbitration in the sameway.

JGoverning law: This agreement and any arbitration hereunder shall be governed by English law.

K

Scope of authority: The Master or other person signing this agreement on behalf of the property identified inBox 2 enters into this agreement as agent for the respective owners thereof and binds each (but not the one forthe other or himself personally) to the due performance thereof.

LInducements prohibited: No person signing this agreement or any party on whose behalf it is signed shall at
any time or in any manner whatsoever offer provide make give or promise to provide or demand or take anyform of inducement for entering into this agreement.

IMPORTANT NOTICES
1Salvage security. As soon as possible the owners of the vessel should notify the owners of other property on
board that this agreement has been made. If the Contractors are successful the owners of such property
should note that it will become necessary to provide the Contractors with salvage security promptly inaccordance with Clause 4 of the LSSA Clauses referred to in Clause I. The provision of General Average
security does not relieve the salved interests of their separate obligation to provide salvage security to theContractors.

2

Incorporated provisons. Copies of the Scopic Clause; the LSSA Clauses and Lloyd’s Procedural Rules may
be obtained from (i) the Contractors or (ii) the Salvage Arbitration Branch at Lloyd’s, One Lime Street,London EC3M 7HA.

Telephone + 44(0)20 7327 5408
Fax +44(0)20 7327 6827
Email lloyds-salvage@lloyds.com
www.lloydsagency.com

15.1.1908 3.12.1924 13.10.1926 12.4.1950 10.6.1953 20.12.1967
23.2.1972 21.5.1980 5.9.1990 1.1.1995 1.9.2000

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