Скачать или смотреть FUND CONVENTION || Function 3 Oral || Chief Mate || Second Mate || Marine Law

The FUND Convention refers to the International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage, adopted in 1971 under the International Maritime Organization (IMO). It aims to provide additional compensation to victims of oil pollution damage when compensation under the Civil Liability Convention (CLC) is insufficient.

The FUND Convention establishes the International Oil Pollution Compensation Fund (IOPC Fund), financed by contributions from oil companies receiving significant quantities of oil by sea. This fund ensures adequate compensation for pollution damage caused by oil spills from tankers and supports preventive measures to reduce such incidents.

Revised by protocols in 1992 and 2003, the convention has expanded its scope and compensation limits, making it a cornerstone of international marine environmental law by balancing the needs of environmental protection with the interests of the maritime and oil industries.

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