Salvage Award

Sum payable to salvors fixed by tribunal or court in recognition of services that save property at sea. Under the International Convention on Salvage 1989, the award may not exceed the salved value and is determined by reference to: the value of the property saved, the danger faced, the skill and effort of the salvors, the time and expenses involved, the prevention of environmental damage, and the promptness of the services. SCOPIC provides a separate fixed-rate remuneration for environmental work where a conventional award is unlikely.