The Federal Maritime Commission (FMC) is an agency responsible for ensuring a “competitiv...

Federal Maritime Commission (FMC) Definition – Investopedia

The Federal Maritime Commission (FMC) is an agency responsible for ensuring a “competitive and reliable international ocean transportation supply system that supports the U.S. economy and protects the public from unfair and deceptive practices.” Formed as an independent agency in 1961, the FMC provides alternative dispute resolution in cases where maritime terminal operators, common carriers, or other parties within the ocean shipping industry have disagreements. Among the commission’s staff are administrative law judges who make binding decisions in such cases. Key Takeaways • The Federal Maritime Commission was formally established in 1961, representing the evolution of shipping regulation going back …

 

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