IOPC FUND - Guidelines for presenting claims in the tourism sector
Year: 2019 Language: english Author: IOPC FUND Genre: Guide Format: PDF Quality: eBook Pages count: 15 Description: The owner of the tanker from which the oil was spilled is responsible for paying for the damage caused, usually through his insurer or P&I Club. However, he can limit the maximum amount he has to pay (according to the size of the tanker) under one of the two relevant Conventions. Once this amount has been paid, the 1992 Fund is responsible for any extra payments. Often the owner’s insurance is enough to cover all the costs and the money from the 1992 Fund is not needed. However, in a very large spill, it is possible that not even the money available from the 1992 Fund to pay compensation for that particular spill will be enough to cover all valid compensation claims; in this case – and it is very rare – each successful claimant will be paid a proportion of his/her assessed claim until all the money available from the 1992 Fund is allocated, unless the damageoccurs in a State which is a Member of the Supplementary Fund.
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IOPC FUND - Guidelines for presenting claims in the tourism sector.pdf
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IOPC FUND - Guidelines for presenting claims in the tourism sector
Language: english
Author: IOPC FUND
Genre: Guide
Format: PDF
Quality: eBook
Pages count: 15
Description: The owner of the tanker from which the oil was spilled is responsible for paying for the damage caused, usually through his insurer or P&I Club. However, he can limit the maximum amount he has to pay (according to the size of the tanker) under one of the two relevant Conventions. Once this amount has been paid, the 1992 Fund
is responsible for any extra payments. Often the owner’s insurance is enough to cover all the costs and the money from the 1992 Fund is not needed. However, in a very large spill, it is possible that not even the money available from the 1992 Fund to pay compensation for that particular spill will be enough to cover all valid compensation claims; in this case – and it is very rare – each successful claimant will be paid a proportion of his/her assessed claim until all the money available from the 1992 Fund is allocated, unless the damageoccurs in a State which is a Member of the Supplementary Fund.
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IOPC FUND - Guidelines for presenting claims in the tourism sector.pdf
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