DISTANCES (contd.)-GULF AND NORTH AMERICA (E.C.).

NORTH AND SOUTH AMERICA (W.C.) VIA PANAMA.

TRANSPACIFIC (North and South America-Australia, Japan, etc.)

XVII.

SALVAGE AGREEMENT.

On Basis of Lloyd's Standard Form of "No Cure—No Pay '

Agreement.

IT IS AGREED between.......

acting for the owners of the Ship..........

according to their respective interests and.

and her cargo

(hereinafter called the Contractor") that the latter shall endeavour to salve the said Vessel and her Cargo, and to take the same int............ or such other place as may be hereafter agreed between the parties hereto. The said services shall be salvage services, and shall be rendered upon and in accordance with the terms of the Standard Form of "No Cure-No Pay" Agreement published by the Committee of Lloyd's, the provisions of which shall apply to this Agreement as if actually inserted herein.

The remuneration demanded by the Contractor and which, subject to the provisions of the said Standard Form, shall be paid to him for his services is ... ...in case of success, and a maximum of............ per cent of the value or proceeds of the property salved in case of only partial success.

.........

Subject to the provision of the Standard Form, the Contractor shall have a lien on the property salved for his remuneration.

XVIII.

STANDARD FORM OF SALVAGE AGREEMENT. (Approved and Published by the Committee of Lloyd's.)

NO CURE-NO PAY.

On board the.............

Dated..

.19..

IT IS HEREBY AGREED between Captain.

of the..

...(afterwards called "the Master") and............ (afterwards called "the Contractor") as follows

1. The Contractor agrees to use his best endeavours to salve the............ ....and her cargo and take her into....... ..or other place to be hereafter agreed with the Master, providing at his own risk all proper steam and other assistance and labour. The services shall be rendered and accepted as salvage services upon the principle of no cure no pay" and the Contractor's remuneration in the event of success shall be ... that being the sum demanded by him, unless this sum shall afterwards be objected to as hereinafter mentioned, in which case the remuneration for the services rendered shall be fixed by Arbitration in London in the manner hereinafter prescribed and any other difference arising out of this Agreement or the operations thereunder shall be referred to Arbitration in the same way.

2. The Contractor may make reasonable use of the vessel's gear, anchors, chains and other appurtenances during and for the purpose of the operations free of costs, but shall not unnecessarily damage, abandon or sacrifice the same or any other of the property.

3. Notwithstanding anything hereinbefore contained should the operations be only partially successful without any negligence or want of ordinary skill and care on the part of the Contractor or of any person by him employed in the operations, and any portion of the Vessel's Cargo or Stores be salved by the Contractor, he shall be entitled to reasonable remuneration not exceeding a sum equal to.................per cent of the estimated value of the property salved at... .........or if the property salved shall be sold there then not exceeding the like percentage of the net proceeds of such sale after deducting all expenses and customs duties or other imposts paid or incurred thereon but he shall not be entitled to any further remuneration, reimbursement or compensation whatsoever and such reasonable remuneration shall be fixed in case of difference by Arbitration in manner hereinbefore prescribed.

4. The Contractor engages not to arrest or detain the Vessel or Cargo or property salved except in the event of any attempt being made to remove the same from....... ..without his consent before the said sum of ...............or the said maximum remuneration mentioned in Clause 3 (as the case may be) has been deposited in Cash with the Committee of Lloyd's to abide the result of the Arbitration hereinbefore mentioned, or such security or bail therefor as the Committee may in their absolute discretion consider

sufficient has been given to them to abide the like result. Subject to this Agreement the Contractor shall have a lien on the property salved for his remuneration.

5. The Committee of Lloyd's after the expiry of 42 days from the date of the Deposit having been made or security or bail having been given as provided for in Clause 4 shall realize or enforce the same and pay over the amount thereof to the Contractor unless they shall meanwhile have received written notice of objection and a claim for Arbitration from any of the parties entitled and authorized to make such objection and claim or unless they shall themselves think fit to object and demand Arbitration. The receipt of the Contractor shall be a good discharge to the Committee for any monies so paid and they shall incur no responsibility to any of the parties concerned by making such payment and no objection or claim for Arbitration shall be entertained or acted upon unless received by the Committee within the 42 days above mentioned.

6. In case of Arbitration the Committee of Lloyd's shall forthwith upon the publication of the Award pay to the Contractor out of the Cash Deposit or by realizing or enforcing the security or bail the amount awarded to him, and shall pay the balance (if any) of the deposit to the Depositors whose receipts shall be a good discharge for the same. If the Award increases the remuneration the parties mentioned in Clause 12 shall pay the difference to the Contractor.

7. The Committee of Lloyd's shall not be in any way responsible for the sufficiency of any security or bail accepted by them, nor for the default or insolvency of any person giving security or bail.

8. In case of objection being made and Arbitration demanded, the remuneration for the services shall be fixed by the Committee of Lloyd's as Arbitrators or at their option by an Arbitrator to be appointed by them, unless they shall within 30 days from the date of this Agreement receive from the Contractor a written or telegraphic notice appointing an Arbitrator on his own behalf, in which case such notice shall be communicated by them to the Managing Owner of the vessel and he shall within fifteen days from the receipt thereof give a written notice to the Committee of Lloyd's appointing another Arbitrator on behalf of all the parties interested in the property salved; and if the Managing Owner shall fail to appoint an Arbitrator as aforesaid the Committee of Lloyd's shall appoint an Arbitrator on behalf of all the parties interested in the property salved, or they may if they think fit direct that the Contractor's nominee shall act as sole Arbitrator; and thereupon the Arbitration shall be held in London by the Arbitrators or Arbitrator so appointed. If the Arbitrators cannot agree they shall forthwith notify the Committee of Lloyd's, who shall thereupon either themselves act as Umpires or shall appoint some other person as Umpire. Any award of the Arbitrators or Arbitrator or Umpire shall be final and binding on all the parties concerned, and they or he shall have power to obtain, call for, receive, and act upon any such oral or documentary evidence or information (whether the same be strictly admissible as evidence or not) as they or he may think fit, and to conduct the Arbitration in such manner in all respects as they or he may think fit, and to maintain reduce or increase the sum demanded by the Contractor. The Arbitrators or Arbitrator and the Umpire (including the Committee of Lloyd's if they act in either capacity) may charge such fees as they may think reasonable, and the Committee of Lloyd's may in any event charge a reasonable fee for their services in connection with the Arbitration, and all such fees shall be treated as part of the costs of the Arbitration and