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 treaty that sets limits on the amount of liability an owner of a vessel can be held liable for in the event of a maritime accident or other incident. This treaty, which was adopted in 1976, applies both nationally and internationally, so it is applicable in Louisiana. Maritime claims covered under the Convention include claims for damage to property, loss of life, or personal injury from a maritime incident involving the vessel. The treaty sets limits on the owner’s liability, based on the vessel’s size and type. The limits vary depending on the vessel, but for a vessel of less than 1,000 gross tons, the owner can be liable for up to 2 million Special Drawing Rights (SDRs). The Convention also limits the time in which legal proceedings can be brought against the owner. Generally, the time limit is one year after the maritime incident occurs, or from the time that the injured party first learns of their right to make a claim. Additionally, the Convention requires the owner of the vessel to post security (usually in the form of a deposit or bond) in order to limit their financial exposure during a legal proceeding. This security is returned to the owner once the proceedings are completed. The Convention on Limitation of Liability for Maritime Claims is an important legal tool that helps to provide some peace of mind to vessel owners by limiting their potential financial liability in the event of a maritime incident. It is applicable in Louisiana and is one of the foundations of maritime law.

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

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