Assessment of Salvage Awards

摘要

Is the assessment of a salvage award something akin to the alchemist's art or is it a process capable of rational analysis? The actual quantum of the award in the final analysis is determined by a Court or Arbitrator from experience, but there are criteria applicable to the assessment and these are now, in large measure, set out in Article 13 of the 1989 Salvage Convention. In this paper the relative importance of these criteria in the assessment of the award of salvage is explored and how the Court or Arbitrator weighs them in the final determination of the amount.