Salvage must avoid clinging to the past with LOF
The International Salvage Union has been a strong advocate of Lloyd’s Open Form and has fought for its continued use. But now even the salvors that LOF seeks to protect appear to be adapting to the reality that LOF is no longer the preferred means to settle salvage contracts
ISU accepts LOF’s best days are behind it as it prepares to co-operate with shipping and underwriters in new ways
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