Web alert: Lloyd's publishes revised SCOPIC rates, effective from 1 January 2014

Lloyd’s has published a revised Appendix A to the SCOPIC clause, which sets out amended tariff rates for personnel, tugs and other craft and portable salvage equipment deployed in performing salvage services where the SCOPIC clause has been invoked.

Section 5(ii) of the SCOPIC clause relevantly states that “The tariff rates which will be used to calculate SCOPIC remuneration are those in force at the time the salvage services take place”.  The amended rates took effect from 1 January 2014.
 
The SCOPIC clause, its appendices and related documents can be found here.