What are the criteria laid down in Article 13 of the International Salvage Convention for fixing a salvage reward?

The reward will be fixed with a view to encouraging salvage operations, taking into account:Β 

(1) The salved value of the vessel and other property; (2) the skill and efforts of the salvors in preventing or minimizing damage to the environment; (3) the measure of success obtained by the salvor; (4) the nature and degree of the danger; (5) the skill and efforts of the salvors in saving the vessel, other property and life; (6) the time used and expenses and losses incurred by the salvors; (7) the risk of liability and other risks run by the salvors or their equipment; (8) the promptness of the services rendered; (9) the availability and use of vessels or other equipment intended for salvage operations; (10) the state of readiness and efficiency of the salvor’s equipment and the value thereof (These criteria are incorporated into LOF 2011. )


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How much is any salvage reward likely to be?

After a salvage service on Lloyd’s Open Form terms, who decides what reward, if any, has been earned, and on what basis?