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From: Mike Maurice (no email)
Date: Wed Nov 02 2005 - 12:46:38 EST
I am on the fringes of a salvage situation where the owner did not
insist on a No Cure, No Pay agreement. Now he has no boat, is being
billed and may never see the Pretty Big Boat again. If you agree to
take help from someone in a salvage situation and the agreement is
open ended without some kind of definable goal, like "Cure", then you
may find yourself needing the Cure.
I am no expert on these kinds of situations, but even a blind man can
see the implications of such a disaster, at least after the fact. It
is of little value to agree to an open ended amount of help for a
situation that requires only a good outcome, to warrant the payment
of real money.
Be sure to insist on a No Cure, No Pay salvage agreement if your
worst nightmare ever becomes reality.
Mike
Capt. Mike Maurice
Tualatin(Portland), Oregon
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