goods rescued from a shipwreck. The original owner might pay a lot of money to have a valuable cargo salvaged.
This means about the same as it does in ordinary layman's language - to save damaged property for further use, thereby reducing the amount of any loss.
Property transferred to an insurer to reduce its loss. The insurer secures an ownership interest from paying a claim for total loss or damage based on the true value of the property in its undamaged state or before the loss occurred.
Damaged property that becomes the possession of an Insurance Company when a loss payment is made may then be sold to recover a portion of the amount paid to the Insured.
Amount regained from a vehicle written off as a total loss.
The wood that is saved from trees that have died from fire or other causes.
A part of the value of a ship and cargo paid to the salvors.
a procedure intended to "rescue" a patient following the failure of a prior treatment; for example, a salvage prostatectomy would be the surgical removal of the prostate after the failure of prior radiation therapy or cryosurgery
To retrieve a deleted file from the server's hard disk. Deleted files are saved in a salvageable state until they are either salvaged or purged by a user, or until the server runs out of disk space and purges them to gain more disk space.
1. to strip serviceable parts from an item of equipment which is beyond repair, in order eventually to install them on other items of equipment; 2. to recover a damaged vehicle or equipment for future repair] see also: recovery; cannibalization
(1) Property that has some value in addition to its value as scrap, but which is no longer useful as a unit in its present condition and whose restoration to usefulness as a unit is economically not practicable. (2) The act of saving or recovering condemned, discarded, or abandoned property in order to obtain useful parts and scrap therefrom.
property or goods saved from damage or destruction
the act of saving goods or property that were in danger of damage or destruction
the act of rescuing a ship or its crew or its cargo from a shipwreck or a fire
save from ruin, destruction, or harm
The property in which an insurance company secures an ownership interest as a result of paying a claim for total loss or damage based on the true value of the property in its undamaged state or before the loss occurred.
Property saved from loss.
The value of property after fire or other peril which value is used to reduce the total loss
money paid for the saving of a ship and/or cargo, or the property that has been saved.
Property which, because of its worn, damaged, deteriorated, or incomplete condition or specialized nature has not reasonable prospect of sale or use as serviceable property without major repairs or alterations but has some value in excess of its scrap value.
remuneration paid to a person who saves a ship, her equipment or cargo from loss or damage at sea. The amount is assessed by a court law according to the value of the salved property, the degree of danger to which it is exposed, the risks borne by the salvor and the degree of skill exercised in saving the property. All the parties contribute in proportion to the value of their salved property.
action taken to save a ship, her equipment or cargo from loss or damage at sea.
(1) Property taken over by an insurance company to reduce its loss. (2) Award recoverable by salvors under maritime law.
1. the saving of a ship, cargo or any maritime property from danger of loss or destruction at sea; 2. an award or compensation to third party for saving maritime property from danger or loss; 3. may also refer to the saved property
The remaining value of property after severe damage by fire or other peril. The overall loss is reduced by the salvage value. Undamaged property may be quite saleable and some property may be partially damaged, thus repairable and then saleable.
The act of saving or rescuing a ship or its cargo.
Operation of reducing the damage to non-damaged goods within a structure that has burned. Example: covering furniture with salvage covers to prevent water damage.
A salvage vehicle is a vehicle that has been wrecked or damaged beyond repair; declared a total loss by the insurer; or declared a total loss by reason of theft. When an insurance company as a result of a total loss settlement acquires a vehicle, the insurance company must apply for a Salvage Certificate. If the owner retains possession of a salvage vehicle, the owner must obtain a Salvage Certificate before receiving a total loss statement from the insurance company.
Work or procedures to reduce incidental losses from smoke, water, and weather during and following fires. The use of waterproof salvage covers is one of the most common means that fire departments use to prevent water damage. Smoke ejectors and deodorants are also used.
Recovery made by an insurance company by the sale of property which has been taken over from the insured as a part of loss settlement.
A totaled vehicle taken over by an insurer and usually sold at an auction to reduce its loss.
Property that, because of its worn, damaged, deteriorated, or incomplete condition or specialized nature, has no reasonable prospect of sale or use as serviceable property without major repairs, but has some value in excess of its scrap value. [D03566] GAT
That which is recovered from the principal or an indemnitor to offset in whole or in part the loss and expense incurred by a surety in satisfying obligations it has sustained under a bond.
Activities to recover materials damaged outside of normal use (usually by water). Conservation
Compensation paid for the rescue of a ship, its cargo or passengers from a loss at sea; or the act of saving a ship or its cargo from possible loss; or property saved from a wreck or fire.
Property taken over by an insurer to reduce its loss.
Commercial salvage of objects from relatively young shipwrecks, e.g. Titanic, may be justified by the fact that the ship is deteriorating, i.e. the wrecksite is not yet stable. Reasons against salvaging old wrecksites are that they are often stable (thus no hurry) and they are often historically or archaeologically valuable (information may be lost). More info on Salvage and Recovery.
Damaged property that may be retrieved, reconditioned, and sold to reduce an insured loss.
to transport the edible meat, skull, or hide, as required by statute or regulation, of a game animal or wild fowl to the location where the edible meat will be consumed by humans or processed for human consumption in order to save or prevent the edible meat from waste, and the skull or hide will be put to human use
Items which formed part of the claim and for which the policyholder has been paid. These damaged, lost or stolen items then become the property of the insurer who is entitled to keep the full proceeds of the sale of any such goods, provided that the policyholder received the full value of the goods in settlement of the claim.
Proceeds of sold property secured after the loss to reduce the loss sustained, such as the sale of a totaled automobile.
A marine insurance term referring to compensation allowed to persons through whose assistance a vessel or its cargo are saved, either in whole or in part.
When a vehicle is damaged beyond repair, or determined a total loss by an insurance company, it is issued a salvage title. From that point it can be used for parts, and is no longer roadworthy.
The remuneration payable independently of contract to an outside party who takes part in a successful rescue operation to save life or property at sea / Property saved / Rescue of property.
A vehicle branded as salvage by the reporting DMV.
To rescue a vessel and/or her cargo from destruction or loss. Cargo that has been rescued. A vessel that has been rescued.
successful rescue of insured boat from a perilous or dangerous situation
The saving or rescue of a vessel and/or the cargo from loss and/or damage at sea.
Property which has been damaged by an insured peril but still has some realizable value; this value is taken into account in determining the amount of the loss.
The process of protecting the contents of a building from fire, smoke and water damage. Tools used include salvage covers that are placed over furniture, preventing damage from water and debris.
whatever is recovered of an insured item or part of it, on which a claim has been paid.
A vehicle that is not economical to repair and is sold for the value of its salvageable parts.
Damaged property an insurer takes over to reduce its loss after paying a claim. Insurers receive salvage rights over property on which they have paid claims, such as badly-damaged cars. Insurers that paid claims on cargoes lost at sea now have the right to recover sunken treasures. Salvage charges are the costs associated with recovering that property.
The rescue of goods from loss at sea or by fire. Also, goods so saved, or payment made or due for their rescue.
salvage cover: Heavy-duty tarpaulins folded or rolled for quick deployment to cover personal property subjected to possible water or other damage during firefighting.
The property which has been recovered from a wrecked vessel, or the recovery of the ship herself.
Whatever is recovered after an insured item or part of it has been lost or damaged beyond repair.
When an insurer makes a payment for lost or damaged property, the insurer is entitled to the salvage of that property.
The monies recovered for merchandise that was lost or damaged during transit.
the value of property after it has been partially damaged by fire or other perils. Also used as a verb meaning to save endangered property and to enhance the value of damaged property. In Marine Insurance it means the cost of saving property exposed to a peril. Salvage, in SURETYSHIP, is that which is recovered from the principal or an indemnitor to offset in whole or in part the loss and expense paid by a SURETY in satisfying its obligation under a bond.
