After 100 years of use in marine emergencies around the world, Lloyd’s Form remains the most frequently used salvage agreement. LOF’s benefits become clear whenever there is a severe threat to ship, cargo and the environment.

LOF ensures that salvage assistance is provided without delay. Commercial considerations are set aside – to be resolved at a later date, following the completion of services. The LOF contract is simple, straightforward and easy to understand.

LOF’s success over many decades is largely due to a characteristic which is probably unique: it requires no pre-contract discussion between the parties concerning the terms and conditions. The current edition, LOF 2000, has only seven boxes to be completed by the contracting parties. Once agreed, LOF allows the salvor to intervene immediately and use his “best endeavours” to save property and, whilst salving the property, prevent or minimise pollution damage.