What is the scope of the Convention on Limitation of Liability for Maritime Claims?

The Convention on Limitation of Liability for Maritime Claims is an international agreement that was signed in 1976 and ratified by New Mexico in 1987. It establishes a limitation fund for losses and damages associated with maritime claims, including those caused by collision, salvage, and other maritime accidents. The Convention applies to accidents occurring on the seas, including territorial waters, and establishes a fund for the payment of damages. It sets a limit on the amount of liability that can be claimed by a person or company responsible for losses or damages caused by a maritime accident. The fund is held in trust and is managed by the court in the jurisdiction where the accident occurred. The Convention also specifies how losses and damages should be allocated if more than one party is responsible for the accident. It states that each party should be held liable only for the amount and kind of loss or damage that is proportionate to its degree of responsibility for the accident. The Convention also limits the liability of shipowners and their insurers for accidents involving personal injury and death, as well as for damage to cargo or to the ship itself. The Convention is designed to provide a fair and efficient means of ensuring the compensation of parties claiming losses or damages from maritime accidents. This helps to ensure that no party is unfairly held responsible for losses or damages that are not their fault.

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What is the scope of the Convention on Limitation of Liability for Maritime Claims?

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