There have been many editions over the last 120 years, the most recent being 1990, 1995, 2000 and 2011. LOF 2011 should ideally be used, although if another edition is offered by a salvor it should be accepted.
Security for the salvor's SCOPIC remuneration, which must be paid within two working days (excluding Saturdays and Sundays and holidays usually observed at Lloyd's) after receiving written notice from the salvor invoking the SCOPIC Clause, by bank guarantee or P&I Club letter for security for US$3 million.
(1) Ships reported by another Member State excluding unexpected factors; (2) ships involved in a collision, grounding or stranding on their way to port; (3) ships accused of an alleged violation of the provisions on discharge of harmful substances or effluents; (4) ships which have been maneuvered in an erratic or unsafe manner whereby routeing measures, adopted by the IMO, or safe navigational practices and procedures have not been followed; (5) ships which have been suspended or withdrawn from their Class for safety reasons after last PSC inspection; (6) ships which cannot be identified in the PMoU database.
(1) The VTM Directive is implemented in the UK by The Merchant Shipping (Vessel Traffic Monitoring and Reporting Requirements) Regulations 2004 (SI 2004/2110), as amended. (2) The Port Waste Reception Facilities Directive is implemented by The MS and FV (Port Waste Reception Facilities) Regulations 2003 (SI 2003/1809), as amended. (3) The PSC Directive is implemented by The Merchant Shipping (Port State Control) Regulations 2011 (SI 2011/2601).