The International Oil Pollution Compensation Fund (IOPCF) is a worldwide intergovernmental organisation which was set up for the purpose of providing compensation for oil pollution damage resulting from oil spills from tankers. The IOPCF operates within the framework of two international Conventions namely the 1969 International Convention on Civil Liability for Oil Pollution Damage (CLC Convention) and the 1971 International Convention on the Establishment of an International Fund for Compensation for Oil Pollution Damage (Fund Convention). Ireland ratified these two conventions by way of the Oil Pollution of the Sea (Civil Liability and Compensation) Act, 1988.
The CLC Convention deals with the liability of ship owners for oil pollution damage. This convention lays down the principle of strict liability for ship-owners and creates a system of cumpulsory liability insurance. The shipowner is normally entitled to limit his liability to an amount which is linked to the tonnage of his ship.