Abstract
ABSTRACT The International Oil Pollution Compensation Fund (IOPC Fund) was established in October 1978, pursuant to the 1971 Fund Convention, with the task of providing compensation to victims of oil pollution damage in states party to that convention, to the extent that the victims do not receive adequate compensation from the shipowner and his insurer. During its 10 years of operation, the IOPC Fund has been involved in the settlement of claims arising out of 34 incidents. The fund has developed a reputation for quick settlement of claims. This is based on the fund's careful monitoring of incidents that may lead to claims against the fund, of its readiness to provide information on how to present claims, the well-defined procedures laid down for accepting claims, the discretion given the fund's director in paying compensation, and its close cooperation with shipowners’ protection and indemnity (P & I) clubs. The IOPC Fund's criteria for presentation, documentation, and admissibility of claims are described here, as well as its policies for negotiating with claimants and its definitions of oil pollution. The IOPC Fund's decisions in the past 10 years have contributed to the development and harmonization of international law regarding oil spill liability.
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