Salvage Convention 1989 provides for uniform international rules regarding salvage operations in the light of the need for timely operations and to protect the environment.
“No cure, No pay” principle established by the 1910 Brussels Convention, that is a salvor is rewarded only if the salvage operation successfully rescues the ship or its cargo. The International Convention on Salvage expanded on this principle by introducing the concept of an “enhanced salvage award”, which may be awarded by an arbitrator or a tribunal if the salvor took effective action to prevent or minimize environmental damage but nevertheless failed to salvage the ship or its cargo.
International Convention on Salvage 1989
Reference:
- International Maritime Organization (IMO)
- Wikipedia