What is the Admiralty Law of salvage?

Admiralty law of salvage defines the process of a citizen being able to claim compensation when they assist in saving a ship or its cargo from a disaster. In South Carolina, a person may be entitled to a salvage award when they have “voluntarily rendered services to save or attempt to save a vessel, cargo, or other property from impending peril, or to prevent loss thereof.” Generally, the person who has rendered assistance is entitled to a reasonable reward for doing so. The amount of the salvage award is determined based on a variety of factors. These factors include the degree of risk, the quantity of the vessel or goods saved, the labor expended, the value of the vessel and goods saved, and the nature of the service. In South Carolina, salvage awards may not exceed the value of the property saved, unless extraordinary circumstances apply. The admiralty law of salvage is based on the ancient principle of “no cure, no pay.” This principle holds that a person who renders assistance is only entitled to a reward if they were actually successful in helping to save the property. For example, a person who tries to save a sinking ship but fails will not be eligible for a salvage award. However, the person may still be entitled to compensation for his or her efforts. In South Carolina, the admiralty court has the power to make a salvage award where the amount in dispute cannot be agreed upon by the parties. The court will review the evidence and circumstances of the case to determine the appropriate amount of the reward.

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What is the Admiralty Law of salvage?

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