About this document
CLC Fund Convention by Tenzin Sherap is a document available to read on EtoBox.
The Civil Liability Convention (CLC) establishes a compensation mechanism for oil pollution incidents, requiring oil tanker owners to pay for damages caused by their vessels, with strict liability and compulsory insurance coverage. The Fund Convention, created as a second tier, involves oil importers contributing to a fund for additional compensation beyond the CLC limits. Together, these mechanisms can provide up to 203 million SDR for oil pollution incidents, and with the optional Supplementary Fund, this
- Author
- Tenzin Sherap
- Language
- EN