Boatus Salvage Agreement

Q: If I am insured with BoatUS, how can you help me if I need help? The BoatUS Yacht Policy offers this level of coverage for rescue. Often, the ships had only in common that they were insured by Lloyd`s of London. So Lloyd`s developed a Standard Open Form Salvage Contract, which defines the criteria on which the recovery supplement would be based, where and how disputes would be settled. This program was very successful and is still used today by Lloyds sub-writers for both merchant ships and yachts. The Lloyds contract remains the recognised standard for rescue contracts in the international maritime community. Bottom ships, rocks, lower water or sinking are recovered, as well as collisions, fires, runaways or other types of immediate danger. Rescue is also at stake when special equipment like pumps, airbags or divers are needed, even if the boat is docked. BoatUS is first and foremost an insurance company, and often it is the insurance company that pays recovery fees, as was the case for Eric Hull, the man we definitely do not want to upset. While there is sometimes a narrow line between towing and rescue, there are a few clear indicators that point to everyone. “Rescue requires the existence of a `hazard` to the ship in distress or the people on board, or a danger to the lifeboat and its crew or the marine environment,” said Adam Wheeler, vice president of BoatUS Towing Services. To deal with the costs and complications of rescue claims, boaters should insure with a yacht insurance company that deals with ship damage specialists.

All companies of TowBoatUS and Vessel Assist undertake to inform the owner of a boat – before the start of the work – if the procedure is declared recovery. If the owner is not on board or if the conditions are so dangerous and the rescue of the boat requires immediate measures, he is notified as soon as possible after the rescue of the boat. All boaters should check their transportation insurance with their agent. The best protection against a rescue bill is sufficient insurance. Boaters should ensure that the police provide for rescue up to the total value of the boat, not a percentage of its value, and that there is no deductible for salvage fees. The BoatUS transportation insurance program offers this level of service. BoatU.S. plays absolutely no role in the process that leads to the panel`s decision on the rescue price. It serves only in an administrative capacity and facilitates communication between the arbitration panel and the complainants. When it comes to flexiblegrounding, BoatUS members benefit from a special agreement with the TowBoatUS and Vessel Sur l`eau towing fleets, which ensures that if there is little danger and no damage to the boatUS member`s disabled boat and it only takes one boat to remove the soft vessel from a depth, it is a simple towing job. Other commercial towing companies may or may not comply with this agreement.

Each party selects an arbitrator from a list of Admiralty lawyers and naval professionals (Salvors, Sea Surveyors, etc.) experienced in recovery. The two arbitrators select a third arbitrator, who is still an experienced admiralty lawyer, and the three-member panel considers all the facts presented by both parties. There is no direct communication between the parties and the arbitration panel; All communication is written and there is no personal testimony. Each page has the opportunity to refute the information provided by the other party. The plan saves both parties money, often a lot of money. Instead of paying hourly attorneys` fees and court fees that can quickly amount to tens of thousands of dollars, the fees per party for the arbitration service are limited to 2,750 $US, of which 350,$US go to BoatUS solely for program management and the rest to arbitrators. . . .