Abandonment and Salvage

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A clause in a contract allowing one party to abandon (or forfeit ownership to) a property and thereby transfer ownership to another party, assuming the second party accepts. Abandonment and salvage clauses are most common in insurance covering goods being shipped overseas. That is, if the ship sinks and the owner does not wish to attempt to recover the goods, he may declare them abandoned, which would transfer ownership to his insurance company (though the insurance company may refuse to accept ownership). It is also present in some homeowner's insurance contracts. It should not be confused with an abandonment option.

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No references found			This evaluation includes a number of assumptions relating to factors such as initial production rates, production decline rates, ultimate recovery of reserves, timing and amount of capital expenditures, marketability of production, future prices of crude oil and natural gas, operating costs, well abandonment and salvage values, royalties and other government levies that may be imposed during the producing life of the reserves. BNK Petroleum Inc. 2008 reserves report by PR Newswire In each case, the procedure reduced the deeper water depth field development cost, accelerated the schedule and saved on abandonment and salvage cost at the shallower location. Plinths Earn ATP Innovation/Technology Award by PR Newswire			A/C A/D A1 AA AAA AAA tenant AAA+ Bank AAAA Spot Contract AAII Aandeel Aandeel aan toonder Aanduiding op facturen Aanhangsel Aanklager Aansprakelijkheid AATPO ABA Transit Number Abacus Abaissement de la notation Abandon Abandon Rate Abandonar Abandonare Abandoned Property abandonment Abandonment and Salvage Abandonment Option Abandonment Value Abandonner Abandonnieren abatement Abatement Cost Abbrochment ABC ABC Agreement ABC Analyzed Issue ABC Method ABC News/Money Magazine Consumer Comfort Index ABC Statement ABCD Counties Abend Abeyance Abeyance Order Ability to Pay able to purchase Abnormal Return Abnormal Returns abnormal sale Abnormal Spoilage ABO abode			Abandoned towns Abandoned towns Abandoned Uranium Mine Abandoned Vehicle Abandoned Vehicle Abatement Service Authority Abandoned Watercraft Abatement Fund abandoned workings Abandonedly Abandonee abandoner abandoner abandoner abandoner abandoner abandoning abandoning abandoning abandoning abandoning abandoning ship abandoning ship abandoning ship abandoning ship abandonment abandonment abandonment abandonment abandonment abandonment Abandonment and Recovery Abandonment and Salvage Abandonment and Salvage Clause Abandonment and Salvage Clauses Abandonment Clause Abandonment Clauses abandonment contour Abandonment for torts Abandonment in marine insurance Abandonment in marine insurance Abandonment in marine insurance Abandonment in marine insurance Abandonment in marine insurance abandonment of a known right abandonment of a trademark Abandonment of an action Abandonment of an action Abandonment of an action Abandonment of an action Abandonment of an action Abandonment of an easement Abandonment of an easement Abandonment of an easement Abandonment of an easement Abandonment of an easement abandonment of care Abandonment of domicile Abandonment of domicile Abandonment of domicile Abandonment of domicile Abandonment of domicile Abandonment of railways

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