Salvage and Towage Contracts

Salvage and towage contracts are agreements in the maritime industry. Salvage contracts involve the rescue of a ship or cargo in distress, where salvors receive payment based on the value of what they save. Towage contracts are for moving a vessel from one location to another, often requiring specialized tugboats. In both cases, clear terms regarding payment and responsibilities are vital, protecting the interests of the ship owner and the service providers. These contracts ensure that help is available when vessels face emergencies or need assistance navigating safely.