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TeachMeFinance.com - explain salvage salvage 'salvage' is an military term meaning '(DOD) 1. Property that has some value in excess of its basic material content but is in such condition that it has no reasonable prospect of use for any purpose as a unit and its repair or rehabilitation for use as a unit is clearly impractical'. Previous 5 Terms: safety line_ safety wire _ safety zone- safing - salted weapon Next 5 Terms: salvage_ salvage operation _ salvage operation- salvo - salvo Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.