An agreement whereby a guarantor agrees to meet a salvage award if the party responsible fails to pay it to the salvor. Such an agreement enables a salvor safety to release the maritime lien to which he is entitled on the salved property.
The Rantings of the barely human.
An agreement whereby a guarantor agrees to meet a salvage award if the party responsible fails to pay it to the salvor. Such an agreement enables a salvor safety to release the maritime lien to which he is entitled on the salved property.