abstract:A Lloyd's Open Form, formally Lloyd's Standard Form of Salvage Agreement, but more commonly referred to as LOF, is a standard legal document for a proposed marine salvage operation. The two-page contract is published by Lloyd's of London.
Salvagecontractson Lloyd's OpenForm(LOF)andChinaMaritimeArbitrationCommissionStandardForm("BeijingForm")arethe most frequently used forms ofsalvage contracts in China.