Salvage Arbitration Branch
Find out about the role played by Lloyd's Salvage Arbitration Branch in the administration of Lloyd's Form of Salvage Agreement (LOF) and obtain up to date information on the latest LOF cases as well as details on the background and workings of LOF, which has been the preferred contract of the professional salvage industry since its introduction in 1908.
An introduction to Lloyd’s Open Form of Salvage Agreement
Lloyd’s Form of Salvage Agreement (LOF) has been in use for over a hundred years, providing a framework for determining the amount of remuneration to be awarded to salvors for their services in saving property at sea and minimizing or preventing damage to the environment. Originating in the late 1800s, it is today the most widely used international salvage agreement of its kind.