The IMO’s Liability and Compensation Regime and the Impact of its Ratification under UAE Law
The Convention on Limitation of Liability for Maritime Claims 1976 (LLMC) was adopted on the 19th of November 1976 and subsequently entered into force on the 1st of December 1986 replacing the International Convention relating to the Limitation of the Liability of Owners of Seagoing Ships (Brussels Convention), which was signed in Brussels in 1957.
Historically the Limitation of Liability Convention was ratified to encourage and foster international trade by sea, by permitting shipowners and salvors to limit their liability under certain circumstances. Additionally, it was designed to replace the Brussels Convention, which by this time had become obsolete, due to the increased value of cargo and seagoing vessels.
What are the dereferences between the 1976 Convention and the 1996 Protocol?
What claims are limitable under the convention?
Is it possible to limit your liability before the UAE Judicial system?
Will it be possible to establish a Limitation Fund in the UAE?
What are the benefits of ratifying the LLMC Protocol 1996?
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