What is the scope of the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage?

The International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage was adopted by the International Maritime Organization in 1971. It is an international agreement that was put in place to provide compensation in the event of an oil spill that causes damage to coastal areas or its environment. This convention provides a mechanism for establishing an international fund to pay compensation for oil pollution damage resulting from the discharge, escape, or deposit of oil in the sea from any ship which is registered in a state party to the convention, or any other ship, when the owner of the ship is a resident of, or an organization registered in, a state party. The convention also provides for the establishment of an international fund administered by the International Maritime Organization (IMO) to pay compensation for oil pollution damage, if the owner of the vessel responsible for the damage is unable to, or refuses to, pay. The International Fund is financed by contributions from member states. The scope of the convention extends to the entire exclusive economic zone of the state parties to the convention, as well as the inland water areas of the state. The convention also includes the territorial waters and territorial airspace of the state. In the state of New York, the convention has been adopted and is in effect in accordance with state maritime law. This means that any damages that occur due to an oil spill in the state must be compensated in accordance with the convention.

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What is the scope of the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage?

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