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Lloyd's Open Form
The Lloyd's Open Form, formally "Lloyd's Standard Form of Salvage Agreement", and commonly referred to as the LOF, is a standard form contract for a proposed marine salvage operation. Originating in the late 19th century, the form is published by Lloyd's of London and is the most commonly used form for international salvage. Innovations in the LOF 1980 have engendered a major change in environmental salvage. The salvage reward After a stricken ship accepts an offer of salvage from a salvor, a binding contract is created. It is then normal to agree upon the LOF in the interests of certainty of terms. The LOF is called "open" because it specifies no particular sum for the salvage job. Indeed it may not specify a sum, as salvage is not a "contract for services", but an agreement to provide a service in the hope of a "reward" to be determined later by an arbitration hearing in London, where several KCs practising at the Admiralty Bar specialise as maritime arbitrators. When dete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Standard Form Contract
A standard form contract (sometimes referred to as a ''contract of adhesion,'' a ''leonine contract'', a ''take-it-or-leave-it contract'', or a '' boilerplate contract'') is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it" position. While these types of contracts are not illegal ''per se'', there exists a potential for unconscionability. In addition, in the event of an ambiguity, such ambiguity will be resolved ''contra proferentem'', i.e. against the party drafting the contract language. Theoretical issues There is much debate on a theoretical level whether, and to what extent, courts should enforce standard form contracts. On one hand, they undeniably fulfill an important role of promoting economic efficiency. Standard form contracting reduces transaction costs substantially by avoiding the ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Amoco Cadiz Oil Spill
The ''Amoco Cadiz'' oil spill took place on 16 March 1978, when the oil tanker ''Amoco Cadiz'', owned by the American petroleum company Amoco, ran aground on Portsall Rocks, from the coast of Brittany, France. The vessel ultimately split in three and sank. The US National Oceanic and Atmospheric Administration (NOAA) estimates that the total oil spill amounted to 220,880 metric tonnes of oil which amounts to over 58 million gallons or 256.2 million litres, making it the largest oil spill of its kind at the time. Sequence of events En route from the Persian Gulf to Rotterdam, The Netherlands, via a scheduled stop at Lyme Bay, United Kingdom, the oil tanker ''Amoco Cadiz'', owned by the US-based petroleum company Amoco, encountered stormy weather with gale conditions and high seas while in the English Channel. At around 09:45, a heavy wave slammed into the ship's rudder, resulting in loss of control from the helm. This was later found to be due to the shearing of threaded studs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Codicil
{{disambiguation ...
Codicil may refer to: * Codicil (will), subsequent change or modification of terms made and appended to an existing trust or will and testament * A modification of terms made and appended to an existing constitution, treaty, or standard form contract * Any addition or appendix, such as a corollary to a theorem See also * CODASYL CODASYL, the Conference/Committee on Data Systems Languages, was a consortium formed in 1959 to guide the development of a standard programming language that could be used on many computers. This effort led to the development of the programming l ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SCOPIC
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906. A P&I club is a mutual insurance association that provides risk pooling, information and representation for its members. Unlike a marine insurance company, which reports to its shareholders, a P&I club reports only to its members. Originally, P&I club members were typically shipowners, ship operators or demise charterers, but more recently freight forwa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Nagasaki Spirit
''The Nagasaki Spirit'' 997 is an English admiralty law case on marine salvage and on the provisions of Article 13 and 14 of the 1989 Salvage Convention. The case identified problems with the drafting of the Convention, a response to which was the 2000 SCOPIC codicil which may be attached to the Lloyd's Open Form ("LOF") to vary the terms of the salvage reward. Facts The case involved a collision in 1992 between the oil tanker ''Nagasaki Spirit'', laden with 40,000 tons of crude oil, and the container ship, ''Ocean Blessing'' in the northern part of the Malacca Straits. After the collision some 12,000 tons of crude oil escaped into the sea and caught fire; both vessels were engulfed in flames. All the crew of the ''Ocean Blessing'' perished and only two crew on ''The Nagasaki Spirit'' survived. Professional salvors agreed to salve the ''Nagasaki Spirit'' under LOF 1990 (which included Arts 13 and 14 of the Convention). Using several tugs, the fire was extinguished, the carg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Judicial Functions Of The House Of Lords
Whilst the House of Lords of the United Kingdom is the upper chamber of Parliament and has government ministers, it for many centuries had a judicial function. It functioned as a court of first instance for the trials of peers, for Impeachment in the United Kingdom, impeachments, and as a court of last resort in the United Kingdom and prior, the Kingdom of Great Britain and the Kingdom of England. Appeals were technically not to the House of Lords, but rather to the King-in-Parliament. In 1876, the Appellate Jurisdiction Act devolved the appellate functions of the House to an Appellate Committee, composed of Lords of Appeal in Ordinary (informally referred to as Law Lords). They were then appointed by the Lord Chancellor in the same manner as other judges. During the 20th and early 21st century, the judicial functions were gradually removed. Its final trial of a peer was in 1935, and in 1948, the use of special courts for such trials was abolished. The procedure of impeachment b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Merchant Shipping Act 1995
The Merchant Shipping Act 1995 is an Act of Parliament passed in the United Kingdom in 1995. It consolidated much of the UK's maritime legislation, repealing several Acts in their entirety and provisions in many more, some dating back to the mid-nineteenth century. It appoints several officers of Admiralty Jurisdiction such as the Receiver of Wreck. The Act of 1995 updates the prior Merchant Shipping Act 1894. The lead part on British ships was impacted by the outcome of the Factortame case, as the Merchant Shipping Act 1988 was impugned by the Common Fisheries Policy. Content of Act The Act comprises 316 sections divided into 13 Parts: * Part I: British ships * Part II: Registration * Part III: Masters and Seamen * Part IV: Safety * Part V: Fishing Vessels * Part VI: Prevention of Pollution * Part VII: Liability of Shipowners and Others * Part VIII: Lighthouses * Part IX: Salvage and Wreck * Part X: Enforcement Officers and Powers * Part XI: Accident Investigations and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protection And Indemnity Insurance
Protection and indemnity insurance, more commonly known as P&I insurance, is a form of mutual maritime insurance provided by a P&I club. Whereas a marine insurance company provides "hull and machinery" cover for shipowners, and cargo cover for cargo owners, a P&I club provides cover for open-ended risks that traditional insurers are reluctant to insure. Typical P&I cover includes: a carrier's third-party risks for damage caused to cargo during carriage; war risks; and risks of environmental damage such as oil spills and pollution. In the UK, both traditional underwriters and P&I clubs are subject to the Marine Insurance Act 1906. A P&I club is a mutual insurance association that provides risk pooling, information and representation for its members. Unlike a marine insurance company, which reports to its shareholders, a P&I club reports only to its members. Originally, P&I club members were typically shipowners, ship operators or demise charterers, but more recently freight forw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exxon Valdez Oil Spill
The ''Exxon Valdez'' oil spill occurred in Prince William Sound, Alaska, on March 24, 1989. '' Exxon Valdez'', an oil supertanker owned by Exxon Shipping Company bound for Long Beach, California struck Prince William Sound's Bligh Reef, west of Tatitlek, Alaska at 12:04 a.m. and spilled (or 37,000 tonnes) of crude oil over the next few days. The ''Exxon Valdez'' spill is the second largest in U.S. waters, after the 2010 ''Deepwater Horizon'' oil spill, in terms of volume of oil released. Prince William Sound's remote location, accessible only by helicopter, plane, or boat, made government and industry response efforts difficult and made existing response plans especially hard to implement. The region is a habitat for salmon, sea otters, seals, and seabirds. The oil, extracted from the Prudhoe Bay Oil Field, eventually affected of coastline, of which were heavily or moderately oiled. Spill ''Exxon Valdez'' was carrying of oil, of which approximately were spi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Torrey Canyon Oil Spill
The ''Torrey Canyon'' oil spill was one of the world's most serious oil spills. The supertanker ran aground on rocks off the south-west coast of the United Kingdom in 1967, spilling an estimated 25–36 million gallons (94–164 million litres) of crude oil. Attempts to mitigate the damage included the bombing of the wreck by aircraft from the Royal Navy and Royal Air Force. Hundreds of miles of coastline in Britain, France, Guernsey, and Spain were affected by the oil and other substances used in an effort to mitigate damage. At the time, the ''Torrey Canyon'' was world's worst oil spill; it remains the worst spill in UK history. It led to significant changes in maritime law and oil spill responses. Background When laid down in the United States in 1959, ''Torrey Canyon'' had a capacity of 60,000 tons; the ship was later enlarged to 120,000 tons in Japan. She was named for a geographical feature in California. At the time of the accident, ''Torrey Canyon'' was registered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marine Salvage
Marine salvage is the process of recovering a ship and its cargo after a shipwreck or other maritime casualty. Salvage may encompass towing, re-floating a vessel, or effecting repairs to a ship. Today, protecting the coastal environment from spillage of oil or other contaminants is a high priority. Before the invention of radio, salvage services would be given to a stricken vessel by any ship that happened to be passing by. Nowadays, most salvage is carried out by specialist salvage firms with dedicated crew and equipment. The legal significance of salvage is that a successful salvor is entitled to a reward, which is a proportion of the total value of the ship and its cargo. The amount of the award is determined subsequently at a "hearing on the merits" by a maritime court in accordance with Articles 13 and 14 of the International Salvage Convention of 1989. The common law concept of salvage was established by the English Admiralty Court, and is defined as "a voluntary succes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Double-hulled Tanker
A double-hulled tanker refers to an oil tanker which has a double hull. They reduce the likelihood of leaks occurring compared to single-hulled tankers, and their ability to prevent or reduce oil spills led to double hulls being standardized for oil tankers and other types of ships including by the International Convention for the Prevention of Pollution from Ships or MARPOL Convention. After the Exxon Valdez oil spill disaster in Alaska in 1989, the US Government required all new oil tankers built for use between US ports to be equipped with a full double hull. Reasons for use A number of manufacturers have embraced oil tankers with a double hull because it strengthens the hull of ships, reducing the likelihood of oil disasters in low-impact collisions and groundings over single-hull ships. They reduce the likelihood of leaks occurring at low speed impacts in port areas when the ship is under pilotage. Research of impact damage of ships has revealed that double-hulled tankers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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