FMC Set to Issue Amended OTI Licensing Rules
The Federal Maritime Commission on Oct. 21 voted to move forward with a final rule amending new ocean transportation intermediary (OTI) licensing and financial responsibility requirements, it said in a press release (here). Under the new regulations, OTIs will be…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
required to renew their licenses every three years through an on-line portal beginning in late 2016. The final rule also provides for an expedited hearing process for license denials, revocations, or suspensions. The rule is based on a proposal issued by the FMC in 2014 (see 14100916) that drew criticism from the National Customs Brokers & Forwarders Association of America (see 1412120016). Also in its Oct. 21 meeting, the FMC voted to seek comments on possible modifications to its rules on service contracts and non-vessel operating common carrier (NVOCC) service arrangements, it said.