Circular issued by International Group clubs On the 3 March 2005 the Supplementary Fund Protocol will come into force in Denmark, Finland, France, Germany, Ireland, Japan, Norway and Spain. A number of other States are expected to ratify the Protocol shortly. The Protocol provides an additional layer of compensation in respect of oil pollution damage to which the 1992 Civil Liability Convention (CLC 92) and/or 1992 Fund Convention (1992 Fund) apply. The maximum amount of compensation available in States where the Protocol is in force will be SDR.750 million (approximately USD1.15 billion). This figure is inclusive of the compensation payable under the 1992 Fund (up to SDR.203 million) which is, in turn, inclusive of any compensation payable under CLC 92 (between SDR.4.51 million and SDR.89.77 million depending upon vessel tonnage). In 2001, at the time when the Supplementary Fund Protocol was being drawn up, the Boards of all International Group Clubs agreed to put in place a mechanism for increasing the minimum limit of shipowner liability under CLC 92 in order to: Demonstrate the support of shipowners for the compensation scheme established by CLC 92/1992 Fund. Demonstrate the commitment of shipowners to the notion of sharing and in recognition of the potential increased burden for contributing oil receivers under the proposal to introduce a third tier of compensation through the Supplementary Fund Protocol. Avoid the necessity to amend the Conventions. Following the adoption of the draft Protocol at the IMO, two agreements were drawn up in order to implement the scheme approved by Club Boards. The first agreement, known as Small Tanker Oil Pollution Indemnification Agreement (STOPIA) has the effect of substituting the limit of liability under CLC 92 of SDR 4.5 million ( approximately USD 6.7 million) for a tanker not exceeding 5,000gt with a limit of SDR 20 million (approximately USD 30 million) for a tanker not exceeding 29,548gt. STOPIA is an agreement between