Special Compensation P&I Club (SCOPIC)

Special Compensation P&I Club (SCOPIC) is a mechanism in maritime law that provides financial support to salvage operations when a ship is in distress. It ensures that salvors are fairly compensated for their efforts, particularly if the rescue involves additional risks or costs. SCOPIC is designed to promote safety at sea by incentivizing professional salvors to assist distressed vessels without the fear of inadequate pay. The arrangement is typically agreed upon beforehand and is triggered when specific circumstances arise during salvage operations, helping both shipowners and salvors manage financial risks effectively.