FMC Votes to Amend Rules for NVOCC Service Arrangements
The Federal Maritime Commission approved regulatory updates to its rules for service contracts and non-vessel operating common carrier service arrangements, the agency said in a March 6 news release (here). The final rule will allow for "filing of sequential service…
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contract amendments with the FMC within 30 days of the effective date of an agreement between shipper and carrier" and give additional time to correct technical data transmission errors, among other things, it said. "The Commission examined regulatory requirements for service contracts and NVOCC Service Arrangements in light of current commercial practice and has eliminated a number of burdensome regulatory requirements that served as obstacles to efficient ocean transportation arrangements, added unnecessary transactional costs, and served no regulatory purpose," Acting FMC Chairman Michael Khouri said. "Today’s action is consistent with recent executive orders highlighting the benefits of reducing unnecessary and costly regulations. I am committed to continuing to identify rules that are outdated, or impede the efficient operation of business, and eliminating them whenever possible." The text of the final rule will be posted soon, the FMC said.