Explain in Laymans the Scopic Clause?

[Jamesuk]

Hi just reading up about the Scopic Clause as it popped up in a question on the PPR and I just wanted to layman's view of it.

Is it basc form of 50% now (cover costs) and 50% later covers reward idea?

I found this (http://www.marine-salvage.com/pdfs/ThemysteryofSCOPICunravelled.pdf) but like I said "Layman's" My mind after reading part of the Small Vessel in Commercial Use and COSWOP my mind is not interested it just wants a 5 line summary.

Cheers

just found this too http://www.ybw.com/forums/archive/index.php/t-156778.html

 

[Thistle]

Thanks to Mr Google I found http://www.marine-salvage.com/pdfs/ThemysteryofSCOPICunravelled.pdf which has broadened my knowledge sufficiently.

 

[alan_d]

Given the season, is it anything like the Sanity Clause?

 

[Burnham Bob]

As Chico said 'there ain't no sanity clause'

 

[Jamesuk]

Thanks to Mr Google I found http://www.marine-salvage.com/pdfs/ThemysteryofSCOPICunravelled.pdf which has broadened my knowledge sufficiently.

That was in the OP but that's ok.

Ok so basically my view: it is a form of costs that are associated with the running of a salvage under LOF so that the Salvour gets a fair whack and the Insurance companies covering do not get taken to the cleaners. Also that the money is available to be paid to the salvage operation while it is on going.

Anyway that is my take on it.

In regards to the season it is actually time for the "insanity clause" which is "you must exercise now to prepare for the "Santa Clause" Mince pies, cookies and milk in a few weeks time. https://www.youtube.com/watch?v=nmKQEVJdh5s