No cure - no pay : is the current method of assessing salvage awards adequate in this day and age?

This thesis aims at examining the development of the method of assessing a salvage award. Traditionally based on the Common Law concept of no cure - no pay, a salvage award was granted depending on the success of the salvage operation. The introductory chapter gives a general overview of salvage law and defines the main concepts of salvage. However, it focuses on examining the principle of no cure - no pay, delineating the importance of achieving a high degree of success in order to be rewarded for rendering salvage services and, in particular, the recovery of property. Chapter 2 discusses the entitlement to claim a salvage award under a no cure - no pay system. In so doing it characterizes a salvor - an important element for a better understanding of the second part of the chapter. Subsequently, Chapter 2 examines the assessment of a salvage award under no cure - no pay concentrating on the criteria established in the International Salvage Conventions. This chapter highlights the complete adoption of no cure - no pay into the salvage award system, whilst still aiming to encourage salvage operations. In light of an increase in oil spill casualties, environmental concerns gradually became the salvor's top priority. Salvors felt that the salvage awards granted did not cover the sudden financial burdens. Chapter 3 deals with the exceptions to no cure - no pay introduced by Governments and industry as incentives for salvors to continue performing salvage operations and responding without delay. Analyzing the break through safety-net provision found in Lloyd's Open Form (no cure - no pay) Salvage Agreement 1980, followed by what has been considered to be the major change to date, the introduction of the special compensation article in the International Convention on Salvage 1989, and finally reviewing the recently introduced SCOPIC. 4 Subsequently, Chapter 4 cross-examines the current scenario and examines the recommendations proposed for the revision of the salvage award system in order to include the highly promulgated concept of Environmental Salvage Awards and enforcing the publication of salvage awards to ensure not only that the current system reflects growing public concerns, but that it is a fair, uniform and consistent system decided upon by an impartial Court, aimed at encouraging salvors to continue protecting our shores by contributing to pollution prevention.

Grantor dc:publisher.institution

University of Malta

Year dc:date.issued

2010

• Salvage -- Malta
• Maritime law -- Malta

Statement dc:rights

• info:eu-repo/semantics/restrictedAccess

Language dc:language.iso

en

Repository record dc:identifier.uri

https://www.um.edu.mt/library/oar//handle/123456789/2614

OAI identifier oai:identifier

oai:www.um.edu.mt:123456789/2614