Salvage Rewards

Salvage rewards are payments made to individuals or organizations that help save property in distress, such as a ship in danger. Under salvage laws, if someone successfully recovers or protects a vessel or its cargo from damage or loss, they can claim a reward based on the value of the property saved. This system encourages timely assistance and resourcefulness while ensuring that those who risk their efforts are fairly compensated for their contributions to preventing further financial loss. The reward amount typically considers factors like the value of the salvaged property and the level of danger involved in the operation.