Page 14 - claims information pack ebook_e

1992 Fund Claims Manual October 2016 Edition

The Supplementary Fund Protocol Rights (SDR) (US$6.30 million); for a ship
[1]
with a tonnage between 5 000 and 140 000
1.1.8 The 2003 Protocol to the 1992 Fund units of tonnage, the limit is 4.51 million SDR
Convention established a Supplementary
Fund to provide additional compensation (US$6.30 million) plus 631 SDR (US$882) for
each additional unit of tonnage; and for a ship
for pollution damage in those States that
are Members of the Supplementary Fund. of 140 000 units of tonnage or over, the limit
[2]
The criteria under which compensation is 89.77 million SDR (US$125.4 million) .
claims qualify for compensation from the The shipowner is deprived of the right to limit
Supplementary Fund are identical to those his liability, however, if it is proved that the
of the 1992 Fund. The 1992 Fund’s claims pollution damage resulted from his personal
settlement policy set out in this Manual act or omission, committed with the intent
therefore applies also to compensation to cause pollution damage, or recklessly and
payments by the Supplementary Fund. with knowledge that such damage would
probably occur.
1.2 HOW MUCH Under the 1992 Fund Convention
12
COMPENSATION – the 1992 Fund pays
IS AVAILABLE? 1.2.2 The maximum compensation payable

by the 1992 Fund for any one incident
Under the 1992 Civil Liability Convention is 203 million SDR (US$283.6 million)
[3]
– the shipowner pays whatever the size of the ship. This maximum
amount includes the compensation paid by
1.2.1 The shipowner is normally entitled to limit
his liability to an amount calculated on the the shipowner or his insurer under the 1992
basis of the tonnage of the ship. For a ship Civil Liability Convention.
not exceeding 5 000 units of gross tonnage, 1.2.3 If the total amount of the established claims
the limit is 4.51 million Special Drawing exceeds the total amount of compensation

Maximum limits of compensation

800
750

600
SDR (millions) 400

203 200
89 100
4.5
0 50 100 150 200 250
Tonnage of ship (x1 000 units)
1992 CLC 1992 Fund Convention Supplementary Fund Protocol

[1] Amounts in the 1992 Conventions are expressed in the Special Drawing Right (SDR) of the International Monetary Fund. The SDR
is converted into the currency of the State where the pollution damage occurred on the basis of the appropriate exchange rate.
In this Manual, the conversion from Special Drawing Rights to US Dollars has been made using the rate of exchange applicable
on 1 September 2016, ie 1 SDR = US$1.397085. Up to date conversions may be found on the Organisation’s website.
[2] These amounts apply to incidents occurring after 1 November 2003.
[3] These amounts apply to incidents occurring after 1 November 2003.