marine salvage contract

A marine salvage contract is an agreement where a person or company (the salvor) is hired to recover a vessel, cargo, or property from danger at sea, such as wrecks or stranded ships. The contract outlines the terms, including the salvage services provided and the reward or compensation the salvors will receive if successful. Salvage contracts are often governed by maritime laws that encourage rescuing ships or property at sea, ensuring salvors are fairly compensated for their efforts while recognizing their role in maritime safety and rescue operations.