The Lloyd’s Open Form salvage contract (LOF) has been in use for more than a century. It provides for salvage services on a “no cure-no pay” basis with an award for success based on the values of the property saved. Our guest author, Johnson Chiu, compares the LOF to national salvage forms, BIMCO forms for towage and wreck removal and ISU forms. He concludes that the LOF will remain an important contract when the crew, the ship and the environment are in imminent peril yet technology and communication advances make consideration of other contracts attractive to shipowners for minor casualties that do not immediately put the crew, vessel or environment at risk. We thank Mr. Chiu for his contribution to Insight and remind our readers that the author’s views are his own.