The main feature which distinguishes the remuneration payable to salvors from other items of general average expenditure is the necessity imposed upon the salved interests by maritime law, or by the terms of the salvage agreement, to provide appropriate security to the salvors on completion of the salvage services. The effect of this is to place the salved interests at risk for the amount of the salvage remuneration (up to the guaranteed amounts), irrespective of the successful outcome of the adventure.

The author believes this feature to be applied in all maritime jurisdictions. However, in examining the consequences which flow from this, and the liability of ship and cargo interests (and their respective underwriters), it should be emphasised that the observations which follow are based upon English law and practice, in comparison with the York-Antwerp Rules 1974. These observations may not, therefore, be applicable in all countries.

(a) The liability of the salved interests to pay their proportion of the salvage remuneration is individual, and not joint or several.

(b) The assessment of the salvage remuneration is based upon the value of the salved interests at the termination of the salvage services.

(c) The obligation of the parties inter se to contribute in general average is determined in accordance with the York-Antwerp Rules, on completion of the adventure.

(d) The values assessed for salvage purposes may therefore differ from the values ascertained for general average purposes, for a number of reasons:

(i) Variation in the market value of the ship between the time the salvage services are concluded and the end of the voyage.

(ii) Where the salvage remuneration is determined within the jurisdiction of the courts of England (or where English jurisdiction is agreed to by the parties) the value of a ship under time charter will be assessed taking into account the beneficial (or in some cases the detrimental) effect of the time charter, which