Marine Engineering

1. LOF provides a regime 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 from the late 1800s, it is probably the most widely used international salvage agreement of its kind in the world today. 2. It is a standard legal document for a proposed salvage operation. 3. It should be used when a marine environment is at risk and the master has insufficient time to request the owner to arrange salvage services on a pre-agreed rate of sum. 4. It is a single sheet(2 pages) document in a simple format(LOF 2000 form). 5. LOF 2000 form contains numbered boxes as below Name of the salvage contractors property to be salved (vessel name) agreed place of safety agreed currency date of agreement place of agreement Is SCOPIC clause is incorporated-- yes/no name and signature of contractor name and signature of master / on behalf of proper...