application Archives

LOF 2024 – Changes designed to increase take up of Lloyd’s Open Form

Lloyd’s Open Form (LOF) 2024 has now been published by Lloyd’s of London, its 14th edition since it was first launched in 1908, replacing the 2020 Form. Lloyd’s Salvage & Arbitration Branch summarised the update in May 2024 with changes that will impact salvors, insurers and shipowners. Firstly, there are no changes to the form…

Security is paramount for marine claims

Simon Tatham explains the importance of security: LOUs and guarantees covering shipping claims, salvage and wreck removal “Security is nine-tenths of the law” was my first boss’s mantra. I explain this unique feature of maritime law with this analogy. A building has a lending bank, a builder, tenants, occupiers, suppliers, insurers and may store goods…

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