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 (the Fund Convention), is an international agreement which establishes an international fund to provide compensation for damage resulting from oil pollution. It applies to ships registered in a state party to the Convention, as well as to vessels, facilities and platforms operating in maritime areas under the jurisdiction of those parties. The scope of the Fund Convention is wide-ranging and covers ships, tankers, barges, offshore platforms, pipelines, and other facilities. It includes compensation for damage caused to coastal states, their territories, economic zones, and exclusive economic zones as well as for the marine environment and offshore installations. In South Carolina, the Fund Convention applies to vessels, facilities, and platforms operating in the maritime area under the jurisdiction of the State. For instance, all vessels registered in South Carolina must be insured for oil pollution damage that may occur in the course of their operations. This requirement is included in the South Carolina Maritime Law, which also determines the areas in the jurisdiction of the state where the Fund Convention applies. In any event, the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage is intended to compensate those affected by pollution due to oil spills, and serves as a framework to ensure that such compensation is paid out swiftly and equitably.

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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