OTI cooperation during the audit is key to achieve prompt completion of the audit and any corrective actions. that apply. Each day of a continuing violation shall constitute a separate violation. An entity that also provides OTI services in its own name and not on behalf of a licensed or registered OTI must be separately licensed under this part and must provide proof of its own financial responsibility and publish a tariff, if applicable. When assessing an application to be an RFMC, LFMC or VCFM, MAS takes into account factors such as: Fitness and propriety of the applicant, its shareholders and directors. In the event a licensee acquires one or more additional licensees, for the purpose of merger, consolidation, or control, the acquiring licensee shall advise the Commission of such acquisition, including any change in ownership, within 30 days after such change occurs by submitting an amended Form FMC-18. The notice of revocation or suspension will provide, in detail, a statement of the facts supporting the action. (e) False or fraudulent claims, false information. A branch office of an OTI may use the license of the OTI, provided that the address of the branch office has been reported to the Commission in Form FMC-18 or pursuant to 515.20(e). (e) Other changes. citations and headings For the purposes of this part, the term: (1) Ocean freight forwarder (OFF) means a person that -, (i) In the United States, dispatches shipments from the United States via a common carrier and books or otherwise arranges space for those shipments on behalf of shippers; and, (ii) Processes the documentation or performs related activities incident to those shipments; and. In any instance where an application has been processed in whole or in part, the fee will not be refunded. A current running account of all receipts and disbursements, accounts receivable and payable, and daily cash balances, supported by appropriate books of account, bank deposit slips, canceled checks, and monthly reconciliation of bank statements. (e) Foreign-based licensed NVOCC. (2) An ocean transportation intermediary must report branch offices to the Commission in Form FMC-18 or under the procedures in 515.20(e). (c) Reduced forwarding fees. 515.2(i) and (l) of the The Form FMC-18 is not The QI program helps pay your Part B premiums. . . The Surety shall not be liable for any transportation-related activities of the Principal after the expiration of the 30-day period but such termination shall not affect the liability of the Principal and Surety for any event occurring prior to the date when said termination becomes effective. However, the bond shall not apply to shipments of used household goods and personal effects for the account of the Department of Defense or the account of federal civilian executive agencies shipping under the International Household Goods Program administered by the General Services Administration. (e) Every ocean transportation intermediary using a group or association of ocean transportation intermediaries to cover its financial responsibility requirement under 515.21(b) shall publish the name and address of the group or association's resident agent for receipt of judicial and administrative process, including subpoenas, in its tariff, when required, in accordance with part 520 of this chapter. To qualify for any of the three types of OTI license (Large PDF) issued by the Federal Maritime Commission (FMC), your company must demonstrate to the FMC that at least one of your company officers has a minimum of three (3) years working experience for an FMC licensed NVOCC, ocean forwarder, or ocean carrier in the USA. FMC regulates ocean shippingTo qualify for any of the three types of OTI license issued by the Federal Maritime Commission ("FMC"), your company must demonstrate to the FMC that at least one of your company officers has a minimum of three (3) years working experience for an FMC licensed NVOCC, ocean forwarder, or ocean carrier in the USA. openssl req -new -key fmc.key -out fmc.csr. the name of your existing company, the new name of the company should appear will bring you directly to the content. No OTI shall prepare or file or assist in the preparation or filing of any claim, affidavit, letter of indemnity, or other paper or document concerning an ocean transportation intermediary transaction which it has reason to believe is false or fraudulent, nor shall any such OTI knowingly impart to a principal, shipper, common carrier or other person, false information relative to any ocean transportation intermediary transaction. 40901-40904) and the rules and regulations, as amended, of the Federal Maritime Commission, which provide compensation for damages, reparations or penalties arising from the transportation-related activities of Insured, and made pursuant to the Shipping Act of 1984 (46 U.S.C. 515.2(i), Nomenclature changes to part 515 appear at 67 FR 39860, June 11, 2002, and 70 FR 7669, Feb. 15, 2005. The Commission will update this list on a periodic basis. Bonds must be issued by a surety company found acceptable by the Secretary of the Treasury; (b) Insurance, by filing with the Commission evidence of insurance on Form FMC-67. If Jeannie Knudson. <>>> user convenience only and is not intended to alter agency intent Whereas, the Insured is or may become an OTI subject to the Shipping Act and the rules and regulations of the Federal Maritime Commission, or is or may become a group or association of OTIs, and desires to establish financial responsibility in accordance with section 19 of the Shipping Act (46 U.S.C. performed by the qualifying individual. All hearing requests under 515.15 and 515.16 shall be submitted to the Commission's Secretary. No application fee is required when reporting this change. Applicants that are 40901-40904), and the rules and regulations of the Federal Maritime Commission relating to evidence of financial responsibility for OTIs (46 CFR part 515), this guaranty shall be available to pay any judgment obtained or any settlement made pursuant to a claim under 46 CFR 515.23 for damages against the Applicant arising from the Applicant's transportation-related activities under the Shipping Act, or order for reparations issued pursuant to section 11 of the Shipping Act (46 U.S.C. Based on BEIC audits results for the most recent period (January June, 2017), the most common issues encountered during the course of an OTI compliance audit are: Competition and Integrity for Americas Ocean Supply Chain, Ocean Shipping Reform Act of 2022 (OSRA) Implementation, Foreign NVOCC Registration Status Changes, Consumer Affairs & Dispute Resolution Services, Apply for or make changes to a License or Request a Foreign Registration, Historical Federal Maritime Commission Reports, Vessel-Operating Common Carrier (VOCC) Audit Program, Shipping Act and other statutes and regulations within the Commissions authority, Names and information concerning Qualifying Individual(s), Nature and extent of current operations of the OTI, Failure to update Non-Vessel-Operating Common Carrier (NVOCC) rates or maintaining a tariff that contains one rate applicable to Cargo NOS. Should the QI no longer serve as an officer and employee of the OFF, the OFF must replace the QI within 30 days. the hierarchy of the document. 41107-41109). Charges for such forwarding services shall be assessed in conformance with the carrier's published tariffs. A license is not required in the following circumstances: (a) Shippers. payable to the Federal Maritime Commission. Please do not send cash. The Principal or the Surety may at any time terminate this bond by mail or email (bcl@fmc.gov) written notice to the Director, Bureau of Certification and Licensing, Federal Maritime Commission, Washington, DC 20573. Footnotes 1 A person can't qualify more than one taxpayer to use the head of household filing status for the year. Payment under this Rider shall not reduce the bond amount in the first paragraph of this Bond or affect its availability. The qualifying individual must have a minimum of three years experience in the ocean transportation intermediary business in the United States in order to be approved. (g) Termination or suspension of registration -. information or personal data. Whereas, the Insurance is written to assure compliance by the Insured with section 19 of the Shipping Act (46 U.S.C. 40101-41309) and the rules and regulations of the Federal Maritime Commission (FMC), or is or may become a group or association of OTIs, and desires to establish its financial responsibility in accordance with section 19 of the Shipping Act (46 U.S.C. 515.26 Termination of financial responsibility. The Principal or the Surety may at any time terminate this Rider by mail or email (bcl@fmc.gov) written notice to the Director, Bureau of Certification and Licensing, Federal Maritime Commission, Washington, DC 20573, accompanied by proof of transmission of notice to MOC. If applicant is currently licensed as an ocean freight must be completed depending on the particular transaction as follows: All Applications must be The bond, insurance, or other surety may be available to pay such claim if: (i) The ocean transportation intermediary consents to payment, subject to review by the financial responsibility provider; or. For corporations, an Amended Articles of Such termination shall become effective thirty (30) days after receipt of said notice and proof of transmission by the Federal Maritime Commission. This 8. But only an HSA lets you take tax-free distributions for qualified medical expenses. For address changes, the surety company must send a bond rider to otibonds@fmc.gov. Guaranty in Respect of Ocean Transportation Intermediary (OTI) Liability for Damages, Reparations or Penalties Arising from Transportation-Related Activities Under the Shipping Act of 1984 (46 U.S.C. Medicare Savings Programs (MSP) help people with limited income and resources pay for some or all of their Medicare premiums and may also pay their Medicare deductibles and co-insurance. officer, director, or stockholder and the percentage of ownership. (1) A disclosed agent, individual employee, or branch office of an ocean transportation intermediary is not required to be licensed in order to act on behalf of and in the name of such ocean transportation intermediary. Such registered NVOCC shall be strictly responsible for the acts and omissions of its employees and agents, wherever they are located. This Guaranty is effective the day of ____, ____, ____ 12:01 a.m., standard time at the address of the Guarantor as stated herein and shall continue in force until terminated as herein provided. Applications for a new license by the executor, administrator, heir(s), or assign(s) shall be made on Form FMC-18, and shall be accompanied by the fee required under 515.5(c). (e) Common carrier means any person holding itself out to the general public to provide transportation by water of passengers or cargo between the United States and a foreign country for compensation that: (1) Assumes responsibility for the transportation from the port or point of receipt to the port or point of destination, and. The Qualifying Individuals (QIs) program is an extension of QMB. The total amount of aggregate coverage equals or exceeds $125,000. etc. responsibility within two years of the date of approval, the Commission will (ii) in the case of insurance and guaranty, a firm having a financial rating of Class V or higher under the Financial Size Categories of A.M. Best & Company or equivalent from an acceptable international rating organization, Underwriters at Lloyd's, or surplus line insurers named on a current white list issued by the Non-Admitted Insurers' Information Office of the National Association of Insurance Commissioners and issued by such firms on Form FMC-67 and Form FMC-68, respectively. Study with Quizlet and memorize flashcards containing terms like Type AC cable is permitted in, Listed FMC and LFMC shall contain an equipment grounding conductor if the raceway is installed for the reason of, Cable________ made and insulated by approved methods can be located within a cable tray provided they are accessible, and do not project above the side rails where the splices are . (1) Licenses. US If you need additional space, enter the information on The Principal or financial responsibility provider will promptly notify the underwriting Surety in writing and the Director, Bureau of Certification and Licensing, Federal Maritime Commission, Washington, DC 20573, by mail or email (bcl@fmc.gov), of any additions, deletions or changes to the OTIs enumerated in Appendix A. An independently qualified applicant may be granted a separate license to carry on the business of providing ocean transportation intermediary services even though it is associated with, under common control with, or otherwise related to another ocean transportation intermediary through stock ownership or common directors or officers, if such applicant submits: A separate application and fee, and a valid instrument of financial responsibility in the form and amount prescribed under 515.21. separately licensed.