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- W858393705 abstract "As long as there are ships, there will be marine casualties and, as a result, salvage companies. Salvors have traditionally worked under the “no cure, no pay” ethos, and the mature thread of common law that has developed over its long history. Since then the Lloyd’s Open Form (LOF), among others, has developed, ensuring “reasonable compensation” for efforts to protect the environment, and bringing a degree of contractual certainty to common law salvage. However, as ships grow ever larger, and thus more difficult to salvage, the concept of “best endeavours” is becoming more popular. This article looks at the definition of “best endeavours” in law, and the possible consequences or benefit of the use of this clause. What are the pitfalls of a “best endeavours” contract to the modern salvage company, or indeed owner/underwriter, how strict is the duty, and how is it properly executed?" @default.
- W858393705 created "2016-06-24" @default.
- W858393705 creator A5032646559 @default.
- W858393705 date "2015-06-01" @default.
- W858393705 modified "2023-09-27" @default.
- W858393705 title "“No cure, no pay” or “best endeavours”: the shifting risk paradigm of commercial salvage" @default.
- W858393705 hasPublicationYear "2015" @default.
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