What is SCOPIC security?

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.

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A ship salvages an abandoned yacht found adrift at sea and brings it to a UK port. Who decides what salvage reward, if any, has been earned?

Under a Lloyd’s Open Form salvage agreement, how can the salvor ensure that he gets his salvage security?