Lloyds Open Form: 100 years in the making.(Opinion)

Marine Log, March, 2008 by Witte, John A., Jr.

This year, Lloyd's Open Form (LOF) celebrates its 100 years of service to the marine industry. It remains the contract form of choice of the salvage community when attempting to contract for an emergency salvage operation. Even a document as steeped in historical precedent and the age old law of the sea must, to be truly effective, have the ability to adapt to the needs of our ever-changing world, from both the perspective of regulatory responsiveness as well as the perception of what we as a society consider a success. In short, has the passage of time diminished the ability of the LOF to perform as it did 100 years ago? A quick review of the history of the LOF may assist us in determining the answer.

LOF, is the internationally accepted contract form to...

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