🚢Regulatory Update on Agency Agreements and Appointments by MARAD
Deregulatory-Revision; Agency Agreements and Appointment of Agents
Summary
MARAD is revising its regulations pertaining to the award and administration of agency agreements in the form of service agreements and ship manager contracts. The rule is intended to correct numerous citations in accordance with the codification of Title 46 of the United States Code; improve accessibility by modernizing text and updating agency contact information; and remove obsolete references.
Agencies
- Transportation Department
- Maritime Administration
Business Impact
$$ - Med
The content outlines regulatory changes affecting agency agreements and appointment of agents by the Maritime Administration, which may require compliance adjustments and could impact operational practices for businesses in the maritime sector. This boils down to improving regulations and ensuring up-to-date standards, thus presenting potential costs and operational changes for affected businesses.