2004 Salvage Convention

The 2004 Salvage Convention is an international treaty that sets out rules for rewarding and limiting the liability of ships and their owners when rescuing vessels in danger at sea. It ensures salvors (those performing rescue) are fairly compensated while protecting ship owners from excessive claims. The convention promotes safe and effective salvage operations by establishing standardized procedures, valuation methods, and limits on liability, helping to balance the interests of all parties involved in maritime rescue efforts.