Full members of the ISU are companies and organisations that are active as main contractors and have a track record of providing successful salvage services. The ISU has some 55 full members worldwide. Applicants for membership must be supported by at least two existing ISU full members.
Membership of the ISU confers a mark of professional respect and competence and ISU members may use the ISU logo on their corporate marketing and business materials.
Membership of the ISU demonstrates good standing with other salvors; shipowners and their insurers as well as with other marine professionals.
ISU members receive a listing in the ISU website and are entitled to have their news published in the widely distributed and well-regarded quarterly newsletter, Salvage World.
Members may attend the annual meeting of the association and help to shape policy regarding the business and legal frameworks and practice of salvage and wreck removal. It is also an excellent networking opportunity allowing members to meet and re-establish existing relationships and make new contacts.
ISU also produces an annual associate members’ conference with a programme of relevant speakers and the chance to meet other full members and associate and affiliate members at no cost.
Members are expected to abide by the ISU Code of Conduct and there is a disciplinary process to deal with issues and disputes.
Membership fees are kept as low as possible and are reviewed regularly.
The ISU is also open to associate membership. Associate members are typically organisations which do not provide salvage services directly but which support the industry or have an interest in it. They include marine consultancies, liability and property insurers and brokers; marine law firms, national response organisations and others with an interest in salvage, pollution prevention and wreck removal services.
ISU associate members receive a listing on the ISU website and are entitled to have their news published in the widely distributed and well-regarded quarterly newsletter, Salvage World.
Two representatives of each associate member may attend the annual ISU associate members’ conference at no cost with the opportunity to hear about current issues and to meet and engage with full members.
Associate membership fees are modest and formal applications are considered by the Executive Committee.
Affiliate membership is open to non-commercial organisations with an interest in marine salvage and are usually similar shipping industry trade associations. There is no fee for affiliate members and requests to join this category of membership are considered on a case by case basis with no formal application process.
There are some 80 associate and affiliate members of the ISU.
One Lime Street
LONDON, EC3M 7HA
Tel: +44 20 7327 5408
Fax: +44 20 7327 6827
Lloyd’s Salvage Arbitration Branch (SAB) is responsible for the administration of Lloyd’s Standard Form of Salvage Agreement (or Lloyd’s Open Form – LOF – as it is more commonly referred to). LOF provides a regime for determining the amount of remuneration to be awarded to salvors for their services in saving property at sea and minimising or preventing damage to the environment.
SAB’s main duties include:-
• The collection of salvage securities, thereby allowing the vessel and cargo to proceed on the voyage
• The appointment of arbitrators in cases where parties are unable to reach an amicable settlement
• Publication and distribution of arbitrators’ Awards to the parties involved
• The collection and payment of Award funds.
SAB also collates LOF statistical information. It produces a digest of important legal issues which have arisen in LOF arbitrations since the introduction of LOF 1980.
To obtain up-to-date information on the latest LOF cases, as well as details on the background and workings of LOF and the digest, visit the SAB web-site: http://www.lloydsagency.com
Manager: Kevin Clarke Email: Kevin.email@example.com