Convention on Limitation of Liability for Maritime Claims

The Convention on Limitation of Liability for Maritime Claims is an IMO treaty that was concluded in London in November 1976. It entered into force in 1986 and superseded the 1957 Brussels Convention of the same name. As of October 2016, 54 states are party to the convention.Chapter 1 of the Convention is the Right of Limitation. Chapter 1 of the 1976 Limitation Convention for Maritime Claims includes:The Convention on Limitation of Liability for Maritime Claims 1976 recognized the defects of the 1957 Conventions. Compared with the 1957 Convention, the 1976 Convention provides a better protection and coverage for the parties.Although 65 states have ratified the convention, it has only 54 state parties because a number of ratifying states have denounced the convention. New Zealand has ratified the convention and will cease to be a party in October 2017.