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LIMITATION OF LIABILITY FOR MARITIME CLAIMS

Limitation of liability for maritime claims is a legal concept which allows the
shipowner to limit his financial exposure for maritime claims up to a maximum
sum regardless of the actual amount of the claims being brought against him. The
concept has a long history and, although there is controversy as to the specific
time when it first appeared, it seems that the first real recognition of a shipowner’s
right of limitation of liability is found in the Tavole Amalfitane, wherefrom it
later spread to continental Europe.

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