Introduction This coursework must be carried out individually and requires the student to compile a report on a contemporary issue of Maritime Law. Learning Outcomes being assessed The coursework is designed to meet the following Learning Outcomes, as presented in the module specification: 1. Demonstrate a critical understanding of the common law principles governing commercial obligation and dispute resolution. 2. Appraise pertinent contemporary issues within salvage, ship arrest and maritime liens. Coursework Specification and Corresponding Marks The coursework requires you to write a report considering the following issue LAW REPORT On 23 April 2021, Lloyd's announced that it was considering whether to close its Salvage Arbitration Branch (LSAB), an action that, had it been implemented, would have left the future administration of its Standard Form of Salvage Agreement and the ultimate survival of the Lloyd's Open Form (LOF) in the balance. Following an industry consultation, Lloyds confirmed that it would continue to operate the LSAB. Nonetheless, there is still uncertainty as to the long-term viability of LOF. Despite the LOF Agreement and the associated SCOPIC Clause having been amended and simplified many times throughout its history, its principles have remained the same, namely; "to provide a simple and flexible legal framework for a Contractor to provide salvage services to property in danger". TASK Critically review the legal and commercial principles underpinning the LOF and SCOPIC Clause and discuss the advantages and disadvantages in its use when compared to alternative forms of salvage reward. Your report should consider how a decline in use of the LOF might be halted or reversed in the future. Referencing must be in accordance with the LJMU Maritime, Logistics and Nautical Harvard Referencing Rules, available through the Canvas Community site. Assignment Structure Present your work as an Academic Report, structured: Title page (only include student ID and not your name) AbstractTable of Contents List of Figures/Tables/Cases Introduction Body of Report (with appropriate subsection) Summary / Conclusion Reference List Appendices (if appropriate) Marks will be allocated as follows and in accordance with the performance criteria below. Category Mark out of 100 Factual content: use of sources and evidence of relevant background reading. Use of 20 1. appropriate case law, industry practice and regulatory frameworks. Discussion and Analysis: application of theory, clarity and structure of the arguments. This 40 2. should include a critical analysis of the question supported by evidence. Conclusions: appropriate, relevant and linked in with the questions posed in the coursework 20 3. brief. 4. Referencing: evidence of use of sources, proper use of Harvard Referencing System 10 5. Presentation: quality, accuracy of language, use of diagrams and illustrations 10 TOTAL: 100 Marks]