cONTINUE rEADING
Defined as the act of saving property, salvage is a voluntary service which saves or helps to save a recognised subject of salvage when in danger. Universally recognised as a right, conditions for awards of salvage vary from one jurisdiction to another and depend on a number of factors foreseen in the applicable jurisdiction.
The nature of salvage necessitates that the act is:
- Voluntary
- Helps in the saving of a recognised subject of salvage
- Element of danger
- Operation yields an ultimate success
