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What is FMC rule?

The FMC rule is therefore intended to stop unreasonable and unjust practices that shippers and freight forwarders alike have for years been exposed to. More information on the FMC rule can be found on the detailed analysis document produced by FIATA for its members.

How much does FMC cost?

Records Generally Available to the Public Document Search and Duplication RequestsFeesDuplication of documents by requester$0.10 per page $7.00 minimum ChargeDuplication of documents by FMC$0.10 per page, $7.00 minimum Charge $39/hr for personnel time $39 minimum charge1 more row

What is FMC bond?

What Are Maritime Commission Bonds? The Federal Maritime Commission (FMC) requires every U.S.-based ocean freight forwarder (OFF) or non-vessel-operating common carrier (NVOCC) to obtain a surety bond generically known as an Ocean Transportation Intermediary (OTI) bond in order to become licensed.

Why do I need an FMC license?

To buy or sell sea freight services to or from the USA, a company must be licensed or registered with the FMC. If agent is not FMC licensed or registered, the agent cannot use their sea freight rates to sell sea freight to or from the USA. Registered or licensed agents may provide services of an NVOCC.

What is an FMC license?

What is an FMC Ocean Transportation Intermediary License? Ocean Transportation Intermediaries (OTIs) are either Ocean Freight Forwarders or Non-Vessel-Operating Common Carriers and are regulated by the FMC pursuant to the Shipping Act of 1984.

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When should we file FMC?

FILING REQUIRED BY CARGO RECEIPT DATE: Rates must be filed and effective in FMC tariffs (or filed in an NSA or NRA) no later than the date cargo is received at the origin shown on the NVOCCs house bill of lading (HBL).

What is NVOCC bond?

NVOCC bonds, also known as OTI bonds or the FMC-84 bonds, is a surety bond used specifically for marine vessels participating in commerce between the United States and foreign countries. The vessels that must secure OTI bonds are those that transport goods from the United States to a foreign country.

What is Bond in FMC?

What Are Maritime Commission Bonds? The Federal Maritime Commission (FMC) requires every U.S.-based ocean freight forwarder (OFF) or non-vessel-operating common carrier (NVOCC) to obtain a surety bond generically known as an Ocean Transportation Intermediary (OTI) bond in order to become licensed.

How do you become an ocean carrier?

How to Get an Ocean Freight Forwarder License Appoint a qualifying individual with at least three years of experience in the OTI industry. ... Electronically file a copy of Form FMC-18 with the FMC. ... Submit the license application fee of $250.00 along with the completed application to the FMC.

What is an FMC license?

What is an FMC Ocean Transportation Intermediary License? Ocean Transportation Intermediaries (OTIs) are either Ocean Freight Forwarders or Non-Vessel-Operating Common Carriers and are regulated by the FMC pursuant to the Shipping Act of 1984.

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