Casualties – Salvage and General Average

Where salvage security is required, we can arrange guarantees acceptable to Lloyd’s and Salvors using our guarantee providers, even in those cases where our clients’ own guarantees have been declined. We also provide general average guarantees for cargo insurers when cargo insurers’ own guarantees may have been refused by average adjusters. The cost of providing personal salvage and average guarantees (i.e. the premium that has to be paid to insure the guarantees) is charged to our clients at cost. Rates start at 0.50% of the guarantee amount. We make no charge ourselves for issuing any guarantee but we are only able to arrange personal guarantees when we are also instructed to handle the claim secured by the guarantee.

Commercial difficulties that face cargo interests during a casualty situation, such as, for example, the need to transship the cargo or sell it for salvage, are also addressed. Often casualty cases require lateral thinking in order to solve the problem and we are proud of our proactive and innovative approach. Most importantly, we always look for the most cost effective solution.

For general guidance and advice on GA and salvage, click: HERE