International Oil Pollution Compensation Fund (IOPCF) 1


International Oil Pollution Compensation Fund (IOPCF) 1 : An inter-governmental agency designed to pay compensation for oil pollution damage, exceeding the shipowner's liability. It was created by an IMO Convention in 1971 and started its operations in October 1978. Contributions come mainly from the oil companies of member states. (Maritime/Risk)
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