fmc qualifying individual
Subpart D - Duties and Responsibilities of Ocean Transportation Intermediaries; Reports to Commission, Subpart E - Freight Forwarding Fees and Compensation. Every NVOCC must employee at least one company officer as a Qualifying Individual (QI) for FMC licensing purposes. and months of ocean transportation intermediary experience that the qualifying Please do not provide confidential execution. Provide an (d) Investigation. forwarder, or in air freight forwarding, custom house brokerage, or motor Position the qualifying individual holds as a corporate officer, member, or active partner: (Attach proof of position held i.e., minutes from meeting electing the officers) 12. the Commission's regulations that explains the Licensing and Financial stream Notice of filing of each application shall be published on the Commission 's Web site www.fmc.gov and shall state the name and address of the applicant and the name of the QI. Each group or association of ocean transportation intermediaries shall be responsible for requiring each member ocean transportation intermediary to provide it with valid proof of financial responsibility annually; (5) Where the group or association of ocean transportation intermediaries determines to secure on behalf of its members other forms of financial responsibility, as specified by this section, for damages, reparations or penalties not covered by a member's individual financial responsibility coverage, such additional coverage must: (i) Allow claims to be made in the United States directly against the group or association's Surety, Insurer or Guarantor for damages against each covered member ocean transportation intermediary arising from each covered member ocean transportation intermediary's transportation-related activities under the Act, or order for reparations issued pursuant to section 11 of the Act (46 U.S.C. the qualifying individual is a corporate officer or partner, attach www.fmc.gov. (1) If a person does not file a complaint with the Commission pursuant to section 11 of the Shipping Act (46 U.S.C. endstream endobj 1209 0 obj <>/Metadata 71 0 R/Pages 1206 0 R/StructTreeRoot 112 0 R/Type/Catalog>> endobj 1210 0 obj <>/MediaBox[0 0 612 792]/Parent 1206 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageC]/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 1211 0 obj <>stream A qualifying individual must have at least three years of demonstrable OTI experience in the U.S. trades that can be confirmed by the FMC and, be an officer of the company. Bonds of Qualifying Individual costs between $69 and $390 depending on the personal credit, license history and classification of the qualifier. 515.11 Basic requirements for licensing; eligibility. by money order, certified check, cashier's check, or personal check made If replacing a qualifying individual, list the name of the individual (a) Compensation or fee sharing. FMC Aquatic Senior Qualifying Meet. New OTI Rules Now in Effect - Federal Maritime Commission [64 FR 11171, Mar. PDF Individual Free Miner Certificate Application Form - Gov DPI Copyright & Disclaimer Home / Knowledge Center / Qualifying Individual (QI) The completed questionnaire and any supporting documents must be returned within 30 days. 515.14 Issuance, renewal, and use of license. PDF Qualifying Individuals - Mortgage.nationwidelicensingsystem.org (b) A registration form which appears, upon submission, to be substantially incomplete may be rejected. (g) Response to requests of Commission. Clarification on eligibility to be a Qualified Individual when partnerships are involved. Title 46 was last amended 2/27/2023. US the amount of the civil penalty may increase to $30,000 for each violation. You can learn more about the process Financial Responsibility Requirements; Claims Against Ocean Transportation Intermediaries. will bring you to those results. (b) Agents, employees, or branch offices of an ocean transportation intermediary. Regulation Y 3, Part B. Electronic certification must contain confirmations by the forwarder and the carrier identifying the shipments upon which forwarding compensation may be paid. Check all the boxes that Submit electronically Form FMC-18: Application for a License as an Ocean Transportation Intermediary. Applicants whose applications/approvals have become invalid may submit a new Form FMC-18, together with the required filing fee, at any time. copies of the Form FMC-18 and the related Surety Bond Form FMC-48, at the The Insurer shall not be liable for any transportation-related activities under the Shipping Act of the Insured after the expiration of the 30-day period but such termination shall not affect the liability of the Insured and Insurer for such activities occurring prior to the date when said termination becomes effective. (2) Hearing procedure. boxes are not acceptable as a business address, but may be used for receipt of Non-U.S.-based NVOCCs may obtain a registration or license from the FMC. 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. 41301-41302, 41305-41307(a)), or any penalty assessed against each covered member ocean transportation intermediary pursuant to section 13 of the Act (46 U.S.C. the name of your existing company, the new name of the company should appear The Faculty Multimedia Center (FMC) is a do-it-yourself . Copies of this form will be maintained until the corresponding license has been revoked. in the United States commerce as defined in 46 C.F.R. If this is an Apply for or make changes to a License or Request a Foreign 41301-41302, 41305-41307(a)), or any penalty assessed against the Principal pursuant to section 13 of the Shipping Act (46 U.S.C. However, minutes can serve as a useful summary of the meeting for future business-related reference. Such termination shall become effective thirty (30) days after receipt of said notice and proof of transmission by the Federal Maritime Commission. Examples of work experience that are not considered 41107-41109). forwarder, NVOCC, etc. learn more about the process here. required to be listed. (2) Whenever a person acts in the capacity of an NVOCC as to any shipment, such person shall not collect compensation, nor shall any underlying ocean common carrier pay compensation to such person, for such shipment. FMC Natatorium - events Such investigations may address: (a) The accuracy of the information submitted in the application; (b) The integrity and financial responsibility of the applicant; (c) The character of the applicant and its qualifying individual; and. The initial renewal of an OTI license can take place no sooner than one-year and no later than four-years from issuance. The liability of the Surety shall not be discharged by any payment or succession of payments hereunder, unless and until such payment or payments shall aggregate the penalty amount of this bond, and in no event shall the Surety's total obligation hereunder exceed said penalty amount, regardless of the number of claims or claimants. (1) Any person who wishes to obtain a license to operate as an ocean transportation intermediary shall submit electronically a completed application Form FMC-18 (Application for a License as an Ocean Transportation Intermediary) in accordance with the automated FMC-18 filing system and corresponding instructions. The following notice shall appear on each invoice to a principal: Upon request, we shall provide a detailed breakout of the components of all charges assessed and a true copy of each pertinent document relating to these charges. $225. persons to verify the information set forth on the Form FMC-18. The insurance must provide coverage for damages, reparations or penalties arising from any transportation-related activities under the Act of the insured ocean transportation intermediary. PDF Guidelines on Individual Accountability and Conduct 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. "The Federal Maritime Commission (FMC) is the independent federal agency responsible for regulating the U.S. international ocean transportation system for the benefit of U.S. exporters, importers, and the U.S. consumer." - FMC What does it mean for an NVOCC to have an FMC license? 41107-41109), that are not covered by the identified OTIs' individual insurance policy(ies), guaranty(ies) or surety bond(s). Submit Form FMC-18 and the required license application fee. Now, Therefore, The condition of this obligation is that the penalty amount of this bond shall be available to pay any judgment or any settlement made pursuant to a claim under 46 CFR 515.23 for damages against the Principal arising from the Principal's transportation-related activities or order for reparations issued pursuant to section 11 of the Shipping Act (46 U.S.C. Choose My Signature. (2) An OFF that does not have a bond, insurance, or other surety as required by 46 U.S.C. of this rider, equals $____. (f) Errors and omissions of the principal or shipper. attached to the Form FMC-18. Write your awesome label here. We recommend you directly contact the agency responsible for the content in question. To be eligible for an ocean transportation intermediary license, the applicant must demonstrate to the Commission that: (1) It possesses the necessary experience, that is, its qualifying individual has a minimum of three (3) years' experience in ocean transportation intermediary activities in the United States, and the necessary character to render ocean transportation intermediary services. B. switch to drafting.ecfr.gov. 40101-41309)) (Shipping Act). The Federal Maritime Commission shall not serve as a depository or distributor to third parties of funds payable pursuant to optional bond riders described in 515.25(b). c. The total amount of coverage available under this Bond and all of its riders, available pursuant to the terms of section 1(a.) Incorporated branch offices must be 305, 40102, 40104, 40501-40503, 40901-40904, 41101-41109, 41301-41302, 41305-41307; Pub. FEDERAL MARITIME COMMISSION . This Bond remains in full force and effect according to its terms except as modified above. Upon notification by the Commission that an applicant has been conditionally approved for licensing, the applicant shall file with the Director of the Commission's Bureau of Certification and Licensing, proof of financial responsibility in the form and amount prescribed in 515.21. Whereas, (Principal) ____ operates as a group or association of OTIs in the waterborne foreign commerce of the United States and pursuant to section 19 of the Shipping Act of 1984 (46 U.S.C. CONSULTATION PAPER ON GUIDELINES ON INDIVIDUAL ACCOUNTABILITY AND CONDUCT- PROPOSED SCOPE OF APPLICATION 6 JUNE 2019 Monetary Authority of Singapore 5 2.3 As the underlying principles of clarity in individual responsibilities and proper conduct are applicable across the financial sector, in addition to the list of FIs set out under Choosing an item from A "Certificate of Good Standing", issued within 6 months from the (c) A common carrier that has employed the procedure prescribed in paragraph (b)(1) of this section shall be deemed to have met its obligations under 46 U.S.C. 5 U.S.C. Post office The Insurer consents to be sued directly in respect of any bona fide claim owed by Insured for damages, reparations or penalties arising from the transportation-related activities under the Shipping Act, of Insured in the event that such legal liability has not been discharged by the Insured or Insurer after a claimant has obtained a final judgment (after appeal, if any) against the Insured from a United States Federal or State Court of competent jurisdiction and has complied with the procedures for collecting on such a judgment pursuant to 46 CFR 515.23, the Federal Maritime Commission, or where all parties and claimants otherwise mutually consent, from a foreign court, or where such claimant has become entitled to payment of a specified sum by virtue of a compromise settlement agreement made with the Insured and/or Insurer pursuant to 46 CFR 515.23, whereby, upon payment of the agreed sum, the Insurer is to be fully, irrevocably and unconditionally discharged from all further liability to such claimant; provided, however, that Insurer's total obligation hereunder shall not exceed the amount per OTI set forth in 46 CFR 515.21 or the amount per group or association of OTIs set forth in 46 CFR 515.21. HSA vs. 401 (K) Both accounts let you make pre-tax contributions and grow tax-free earnings. A California Bond of Qualifying Individual will serve as a legal promise regarding the compliance of the applicant to the relevant provisions of the California Business and Professions Code and the rules and regulations set forth by the California Contractors State License Board of the Department of Consumer Affairs. 10 Requirements to Obtain an OTI License from the FMC 41301-41302, 41305-41307(a)), but otherwise seeks to pursue a claim against an ocean transportation intermediary bond, insurance, or other surety for damages arising from its transportation-related activities, it shall attempt to resolve its claim with the financial responsibility provider prior to seeking payment on any judgment for damages obtained. 2. [64 FR 11171, Mar. Licensed, Non-U.S.-based NVOCCsare required to submit proof of financial responsibility in the amount of $75,000. More specific policies and procedures for . FAR). 3. 41107-41109). 41107-41109). The Commission shall publish on the Commission's Web site www.fmc.gov notice of each revocation and suspension. <iframe title="Intentionally Blank" src="https://www.googletagmanager.com/ns.html?id=GTM-MBGXM55" height="0" width="0" aria-hidden="true" style="display:none . 9. (c) Form of certification. Where more than one person operates under a common trade name, separate proof of financial responsibility is required covering each corporation or person separately providing ocean transportation intermediary services. Included with BEICs letter is a multi-page questionnaire that requests specific information on matters such as: A list ofOTI regulatory obligationsalso is provided at the commencement of each compliance audit. For more information about registering with the FMC as a mediator please see . (d) The Federal Maritime Commission shall not serve as depository or distributor to third parties of bond, guaranty, or insurance funds in the event of any claim, judgment, or order for reparation. LLC meeting minutes keep a written record of all consequential discussions, votes, and actions that occurred throughout a limited liability company (LLC) meeting. The applicant must obtain parent 40901-40904), and the rules and regulations of the Federal Maritime Commission relating to evidence of financial responsibility for OTIs, this Insurance 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 Insured arising from the Insured'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. It is highly surrendered, must complete Question No. firm, please identify the person/firm and explain the relationship, e.g. Displaying title 46, up to date as of 3/02/2023. Jun. 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. 515.2(b). ), Ocean Transportation Intermediary (OTI) Insurance, Form Furnished as Evidence of Financial Responsibility. 515.2(i), that apply. will bring you directly to the content. commerce. *Prices shown are for a one year term and are based on several factors including personal credit, license history, years in business and active licensing and bonding of the qualifier. 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). 41107-41109); and, (ii) Be for an amount up to the amount determined in accordance with 515.21(b), taking into account a member's individual financial responsibility coverage already in place. indicate old name or transferor. The Bureau of Enforcement, Investigation, and Compliance (BEIC) actively fosters industry compliance with theShipping Act and other statutes and regulations within the Commissions authority. The Guarantor's liability under this Guaranty shall attach only in respect of such activities giving rise to a cause of action against the Applicant, in respect of any of its transportation-related activities under the Shipping Act, occurring after the Guaranty has become effective, and before the expiration date of this Guaranty, which shall be the date thirty (30) days after the date of receipt of mail or email (bcl@fmc.gov) written notice to the Director, Bureau of Certification and Licensing, Federal Maritime Commission, Washington, DC 20573, that either Applicant or the Guarantor has elected to terminate this Guaranty. 0 Many of our PDF forms and applications can be completed online. export shipper, steamship agent, air freight 40901-40904), files this bond with the Federal Maritime Commission; Whereas, this group bond is written to ensure compliance by the OTIs, enumerated in Appendix A of this bond, with section 19 of the Shipping Act (46 U.S.C. LII Electronic Code of Federal Regulations (e-CFR) Title 46 - Shipping CHAPTER IV - FEDERAL MARITIME COMMISSION SUBCHAPTER B - REGULATIONS AFFECTING OCEAN SHIPPING IN FOREIGN COMMERCE PART 515 - LICENSING, REGISTRATION, FINANCIAL RESPONSIBILITY REQUIREMENTS AND GENERAL DUTIES FOR OCEAN TRANSPORTATION INTERMEDIARIES Except for the automatic revocation for termination of proof of financial responsibility under 515.26, a license may be revoked or suspended after notice and an opportunity for a hearing under the procedures of 515.17. or existing codification. Such hearing shall be provided pursuant to the procedures contained in 515.17. QI Information - DPI Courses electing the qualifying individual or the partnership agreement. Please complete the appropriate section below (8A or 8B). 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. This evidence of financial responsibility shall be accompanied by: in the case of a financial rating, the Insurer's financial rating on the rating organization's letterhead or designated form; in the case of insurance provided by Underwriters at Lloyd's, documentation verifying membership in Lloyd's; and in the case of insurance provided by surplus lines insurers, documentation verifying inclusion on a current white list issued by the Non-Admitted Insurers' Information Office of the National Association of Insurance Commissioners. 49 CFR 172.101 An OTI who has reason to believe that its principal or shipper has not, with respect to a shipment to be handled by such OTI, complied with the laws of the United States, or has made any error or misrepresentation in, or omission from, any export declaration, bill of lading, affidavit, or other document which the principal or shipper executes in connection with such shipment, shall advise its principal or shipper promptly of the suspected noncompliance, error, misrepresentation or omission, and shall decline to participate in any transaction involving such document until the matter is properly and lawfully resolved. applications. [80 FR 68733, Nov. 5, 2015, as amended at 84 FR 62467, Nov. 15, 2019]. 8, 1999, as amended at 78 FR 42888, July 18, 2013], (a) Filing of proof of financial responsibility -. 155.1026 Qualified individual and alternate qualified individual. (d) Special contracts. Documents typically required with an application include, for corporate applicants, your Articles of Incorporation; a current Certificate of Good Standing issued by the U.S. State or jurisdiction in which you do business; a Fictitious Name Statement if you propose to operate under a trade name or dba ; and a Corporate Resolution or minutes of applicable Parts completed. Figure 5: Modify Qualifying Individual How to Remove a Qualifying Individual 1. Now, therefore, the conditions of this obligation are that the penalty amount of this bond shall be available to pay any judgment obtained or any settlement made pursuant to a claim under 46 CFR 515.23 against the OTIs enumerated in Appendix A of this bond for damages arising from any or all of the identified OTIs' transportation-related activities under the Shipping Act (46 U.S.C. The collection of this information is authorized generally by Section 19 of the Shipping Act of 1984 (46 U.S.C. Learn more about the eCFR, its status, and the editorial process.