Friday, 11th March 2011
This document informed the second meeting of the 6th IOPC Fund Intersessional Working Group of the intersessional discussions that had taken place between the IG and the IOPC Fund Secretariat on the issue of the funding of interim payments and, although no agreement had yet been reached between the two parties, it also presented to the Working Group a proposed MoU that has the intention of setting out both the practice which has normally been followed in making interim payments under the international regime of compensation for claims for oil pollution damage, and also the intent in making such payments, with a proposal that the Fund could engage in the funding of interim payments before the shipowner’s limit of liability has been exceeded.
