(1) Unless the parties already fixed the amount of the salvage reward beforehand, they are to set it at a level that encourages future salvage measures. In so doing, they concurrently are to allow for the following criteria, without regard to the order in which they are presented below:
1. the salved value of the ship and of any other salved assets;
2. the skill and efforts of the salvor in preventing or minimising damage to the environment (section 575 (2));
3. the measure of success obtained by the salvor;
4. the nature and degree of the danger;
5. the skill and efforts of the salvor in salving the ship, other property and human life;
6. the time, expenses, and losses incurred by the salvor;
7. the potential liability and other risks to which the salvor or their equipment was exposed;
8. the promptness of the services rendered;
9. the availability and deployment of vessels or other equipment intended for the salvage measures;
10. the state of readiness and efficiency of the salvor's equipment along with its value.
(2) The salvage reward, exclusive of any interest, costs of salvage, or recoverable legal costs, will not exceed the salved value of the vessel and of the other salved property.