Boeing will pay about $144,500 each to the families of the the two fatal Boeing 737 Max air crashes. The money comes from a $50m financial assistance fund, which Boeing announced in July.
The fund has started accepting claims, which must be submitted before 2020. The fund, overseen by Washington lawyers Ken Feinberg and Camille S. Biros, will begin accepting claims from family members immediately.
Families who submit claims will not have to waive their right to file separate lawsuits against the firm, said the fund's administrator Feinberg, who has overseen the distribution of money for victims of the September 11 attacks, among other funds.
The 737 Max has been grounded since March, as investigators evaluate its safety following fatal crashes in Indonesia and Ethiopia, which claimed 346 lives.
In July, Boeing had pledged $100m to families and communities affected by the crashes. The company later said half would be reserved for direct payments to families, with the other half set aside for education and development programmes in affected communities.
In a statement, Boeing chief executive Dennis Muilenberg called the opening of the fund to family claims an "important step" in the firm's efforts to help relatives of the people who died in the Boeing 737 Max 8 crashes.
According to a Reuters report, nearly 100 lawsuits have been filed against Boeing by at least a dozen law firms representing families of the Ethiopian Airlines crash victims, who came from 35 different countries, including nine U.S. citizens and 19 Canadians. The lawsuits assert that Boeing defectively designed the automated flight control system.