SPANISH FORT, Ala.—The Gulf Coast Claims Facility has released its final compensation protocol, and victims of the BP oil spill will have two options.

Claims czar Kenneth Feinberg announced today that claimants can elect to accept a lump-sum, final payment “for all present and future damage,” but doing so requires surrendering the right to sue the London-based oil giant and requires signing a full release.

Claimants also have the option to continue receiving quarterly interim payments, but they must provide documentation of losses for each three-month period.

“However, there is no guarantee that, in the future, a lump-sum final payment will be as generous as it will be currently,” Feinberg said.

The claims facility’s emergency payment system — established to reimburse Gulf Coast residents for losses associated with the April 20 explosion and sinking of the Deepwater Horizon oil rig off the coast of Louisiana — expired Tuesday, having paid $2 billion to some 125,000 individuals and businesses. It was not immediately clear how many claimants rushed to file last-minute emergency claims, and a final tally will not be available until Dec. 15.

According to the most recent figures available, the claims facility has paid a total of $376.88 million to more than 22,000 claimants statewide, but those totals are expected to change dramatically by Dec. 15.

The latest protocol requires claimants to complete either interim or final payment forms, but they will not be required to resubmit documentation.

Claim forms can be submitted via the claims facility’s website at www.gulfcoastclaimsfacility.com; by visiting one the 35 claims offices; by mail to GCCF, P.O. Box 9658, Dublin, OH 43017-4958; by overnight, certified or registered mail to GCCF, 5151 Blazer Parkway, Suite A, Dublin, OH, 43017-4958; by fax at 1-866-682-1772; by email at info@gccf-claims.com; or by calling 1-800-916-4893. A multilingual line is also available at 1-800-916-4893.

Claimants who opt for the final payment and sign the required release form will “waive any rights the claimant may have against BP and any other potentially liable parties to assert additional claims, to file an individual legal action, to participate in other legal actions associated with the spill, or to submit any claim for payment by the National Pollution Funds Center.”

In addition, the protocol stipulates interim payments will cover “substantiated, past damages” only, and such claims can be filed only once every three months unless “pressing circumstances” can be clearly demonstrated.

Interim claims for the first quarter may be submitted up to and including Dec. 31. Cutoff dates for subsequent quarters will be March 31, June 30 and Sept. 30.