LOF 2000

Box No 1

 Name of contractor:
 Agrees to salve the property as
mentioned in Box 2 using his best
endeavors.
Box 2

 Property to be salved includes ship,

cargo, bunkers, freight, and any other
property.
 Excludes : personal effects of master
and crew and baggage of passengers.
Box 3
 To deliver salved property at a place
mentioned in Box 3.
 If no place is mentioned then salvor to
take the salved property to place of
safety.
Box 4, 5, 6
Box 4 – Agreed Currency.

Box 5 – Date of Agreement.

Box 6 - Place of Agreement.

Box 7
Invoking SCOPIC - Either yes or no is deleted.

If No is deleted – Yes - Scopic is incorporated.

If Yes is deleted – No - Scopic is not incorporated –

Special Compensation Applicable.

SCOPIC
 Special Compensation P & I Clause.
 Contractor option to invoke SCOPIC by
written notice.
 SCOPIC remuneration to commence from
the time Scopic is invoked.
 Owners to provide security of US 3 millions
dollars within 2 working days.
 After providing initial security, amount can
be reduced or increased depending upon
costs involved.
 Contractor option to withdraw contract if
initial security is not provided by Ship
Owners.
Tariff Rate
 SCOPIC Remuneration includes
 Total Tariff rate of personnel; tugs and other craft; portable
salvage equipment; O.P.E and bonus due.
 Above rate is assessed on a time and material basis as per
Appendix “A”.
 This Tariff will apply until reviewed and amended by SCR as
in Appendix “B(1)(b)”.
 Out of Pocket expenses – All Monies paid to any third
party (hire of men, tugs, other craft and equipment and
other expenses).
 In addition to above rate and O.P.E, the contractor
entitled for standard bonus of 25% of those rate except
 In case O.P.E exceeds the applicable rate as per Appendix
“A”( if other party is not ISU member and rate not
calculated as per Appendix “A”) –
 Actual Cost of men, tugs and equipment plus 10% of the
cost. OR
 Tariff rate of such men, tugs, craft and equipment plus
25% of tariff rate Whichever is greater.
Scopic Remuration
 Payable only when if it exceeds S.A.

 Payable to the extent it exceeds total

salvage award.

 Payable only by ship owner.

 If SCOPIC is invoked and S.A. is more than

SCOPIC, S.A. Discounted by 25% of diff of
S.A. and SCOPIC.

 S.A reduce by [ S.A. – (S.A. –

SCOPIC)/4 ].
Payment of Scopic
 If no S.A. , SCOPIC will be paid within one
month after termination of salvage
services.
 An interest of 1% will be included in Scopic
from the time Salvage services is
terminated.
 If there is S.A and also Scopic, 75% of
assessed Scopic will be paid within one
month and any undisputed award when
assessed and falls due.
 For overpayment by ship owner, contractor
to give indemnity form as acceptable to
owners.
SCR
 Special Casualty Representative.
 Appointed by Ship owner after Scopic is
invoked
 Selected from a SCR panel.
 SCR entitled to be kept informed by or
on behalf of Salvage Master