Limitation of Liability for Maritime Claims (LLMC)

The Limitation of Liability for Maritime Claims (LLMC) is an international legal framework that allows shipowners to limit their financial responsibility for claims arising from maritime incidents, such as accidents, damages, or loss of life, associated with their vessels. Under LLMC, the amount they can be liable for is capped based on the ship's tonnage, providing financial protection for shipowners. This encourages investment in shipping while balancing the rights of claimants. However, it also means that those affected by maritime incidents may receive less compensation than they would in other circumstances, which can be a point of contention.