Federal Maritime Commission (FMC)
What is FMC?
The Federal Maritime Commission is responsible for regulating shipping traffic coming in and out of the United States. Agents such as freight forwarders or NVOCCs must be registered or licensed with the FMC to be allowed to perform shipping services in the United States. After a freight forwarder/NVOCC has obtain a license from the FMC, they must also submit a Proof of Financial Responsibility ranging from $75,000 to $150,000.
More about FMC
Established in 1961, the Federal Maritime Commission took over the regulatory role of the Federal Maritime Board (1950-1961). From then on, the commission has been ensuring fair and safe shipping practices while providing a wide range of services such as delivering rulings and dispute resolution. FMC’s mission statement: “Ensure a competitive and reliable international ocean transportation supply system that supports the U.S. economy and protects the public from unfair and deceptive practices.”