IMO | Convention on Limitation of Liability for Maritime Claims (LLMC) Convention on Limitation of Liability for Maritime Claims (LLMC) ‘Adoption: 19 November 1976; Entry Into force: 1 December 1986; Protocol of 1986: Adoption: 2 May 41996; Entry into force: 13 May 2004 “The Convention replaced the International Convention Relating tothe Limitation of the Labily of Owners of Seagcng Ships, \weion wae signed in Bruges in 1957, and came nto force in 1986 Under the 1976 Convention, he ln flay for claims covered rise considerably, in some cases upto 250-300 percent. Limits ae specied for to types of css - sims frloes of Ife or parson in, and property clans (auch as damage to ther ships, propery or harbour wort). “The its under the 1976 Convention were st at 389,000 SDR fr parsona clams for ships rot exceeding 600 tons lus an adaiional amount based on tonnage. Farner claims, te mit of ably was xe under the 1876 Convention at 167,000 SDR ‘us adatonal amounts based on tonnage an ships exceeding 500 tons “The Convention prondes fr a vtualyuntresksble sytem oftiiingHablly. Shipowners and savers may Sitti Habit, except ie proved tha the oes rested tom his perzanel act or omission, commited withthe nent o cause sch a loss, oF recklesty and wt knowledge that such oss would probably resut” Protocol of 1996 ‘Adoption: 2 Mey 1996 Enty Into free: 13 May 2008 Under the Protacel the amount of compensation payable n the event of an inedent being substantially increased and aso introsuces a "act acceptance’ procedure for updating these sous “The i of tility fo lie for oss of life or personal injury on ships not exceeding 2,000 gross tonnage is 2 milion SDR. For larger ships, the following adational amounts are used in calculating the liitabon smount + For each ton rom 2001 30,000 tons, 800 SOR + For each tn from 20,00 to 70,000 ters, 600 SOR + For each ton in excess of 70,000, 400 SDR (USES34) ‘Troi of ably or property claims for ships not exceeding 2,000 gts tonnage 1 millon SOR. For larger ships, he folowing edetional amounts ar used in calculating the iiation amount + For each tn from 2004 o 30,000 tons, 400 SOR + For each ton rom 30,001 to 70000 tons, 300 SDR + For each ton in excess of 70,000,200 SDR “Amendments to 1996 Protocol ‘Adoption: 19 April 2012 Entry into foree: 8 June 2018 ‘The new its are expected to enter nto force 36 mocihs fem the date of notification ofthe adoption, goin 2018, under te tact acceptance posadure. New tims: Under he amendments tothe 1906 Protocol the iis are aed 3 flows “Tn iit of abit for ame for oss of le or personal Injury on ships rot exceesing 2,009 gross tonnage Is 3,02 milion SDR (up tom 2 millon SOR), Foclargrshipa, the flowing adctional amouns are sed in calculating the imation amount + For each ton from 2,001 0 $0,000 tons, #208 SDR (up from 800 SOR) * Far each tn rm 30,01 o 70,000 tons, 906 SDR (up trom 600 SOR) + For each tn in excess of 70,000, 804 SOR (up fom 400 SOR) “The iio ably for property claims for ships not exceoding 2,000 gross tonnage 151 mitlon SOR (up tom 1 milion SOR), Forlargerahipa, he folowing aacstona aunt are usd in caeulang the station amount: + Fer ]aach tn frm 2.001 to 30,000 tons, 608 SDR (up team 400 SOR) * For each tn from 30,00 to 70,000 tons, 488 SDR (up from 300 SDR) + For each tn in excess 070,000 tons, 202 SDR (up Fo 200 SOR). ‘Special Drawing Rights ‘The daily conversion rotes for Special Drawing Rights (SOR) canbe found onthe Intemational Monetary Fund IMF website: hip!) Special Drawing Rights ‘The daly conversion rates for Special Drawing Rights (SORs) canbe found on the Intrnationel Monetary Fund IMF webs ipa nt orp) http://www. imo.org/About/Conventions/ListOfConventions/Pages/Convention-on-Limitation-of-.... 22.10.2¢IMO | Convention on Limitation of Liability for Maritime Claims (LLMC) Side 2 a Disclaimer: no nc ensues ata seine orate ho Privacy Poioy hittp://www.imo.org/About/Conventions/ListOfConventions/Pages/Convention-on-Limitation-of-... 22.10.2C