Account

The limits of liability for claims other than those mentioned in Article 7, arising on any distinct occasion, shall be calculated as follows: In respect of claims for loss of life or personal injury. 333,000 Units of Account for a ship with a tonnage not exceeding 500 tons. For a ship with a tonnage in excess thereof, the following amount in addition to that mentioned in i): For each ton from 501 to 3,000 tons 500 Units of Account: For each ton from 3,001 to 30,000 tons, 333 Units of Account: For each ton from 30,001 to 70,000 tons, 250 Units of Account and for each ton in excess of 70,000 tons, 167 Units of Account. In respect of any other claims: 167,000 Units of Account for a ship with tonnage not exceeding 500 tons. For each ship with a tonnage in excess thereof the following amount in addition to that mentioned in For each ton from 501 to 30,000 tons, 165 Units of Account: For each ton from 30,001 to 70,000 tons, 125 Units of Account: and, for each ton in excess of 37 tons 83 Units of Account. The unpaid balance of the life and injury claims, assuming that the life/injury fund is insufficient to meet them in full, will rank alongside the other claims to be paid (again pro rata if the Fund is insufficient) out of that second Fund. A salvor, because of the nature of his operations, will have his Fund calculated according to a notional tonnage of 1,500 tons. The procedure is set out in Article 12 of the 1976 Convention. The Fund is to be distributed among the claimants in proportion to their established claim against the Fund. If a claim has been settled by the person liable or by his insurers before the Fund is constituted, that person or his insurer shall acquire by subrogation the rights which that original claimant had enjoyed under the Convention. This pro rata distribution of the available money was the method also used under the 1957 Convention.