What are the changes to scopic 2011

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1.An average 10% increase in the Appendix ‘A’ Tariff Rates, and,
2.Some changes to the Equipment itemised in the Schedule of Portable Salvage Equipment.
The Appendix ‘A’ Clause 3 (c) & (d) ‘cap’ multipliers of 1.5, were increased to 2.0 and 2.5
respectively. It was also agreed by the SCOPIC Committee that in future there will be a triennial review
of the SCOPIC Clause and the Tariff Rates, so that later in 2013, there will be a review which
will lead to the publication of SCOPIC 2014.
3.A further development during 2011 was the publication of a new Lloyd’s Standard Form of
Salvage Agreement, LOF 2011. This new LOF came into effect on May 9th  2011. The main changes in LOF 2011 relate to;

The publication of future LOF Awards on the Lloyd’s Website, subject to conditions set out in the Lloyd’s Standard Salvage Arbitration Clauses.
A new requirement to notify the Council of Lloyds within 14 days of agreeing LOF.
A new requirement regarding the provision of security for the fees and expenses of Lloyds and the Arbitrator/Appeal Arbitrator.
New special provisions dealing with salved Container ships in respect of notices to salved property, binding unrepresented interests to settlement agreements, and excluding low value cargo from the salved fund.