2025 NVOCC Day (New York City)
Invitation: 2025 NVOCC Day
May 22, 2025 (Maritime Day), 10 am – 4 pm, Venable Office NYC
Imagine facing a hefty $115,000 penalty, just because your shipments were handled by unlicensed or unregistered agents of the FMC. This happened in June 2023 to a company that was not following the FMC rules. The consequences of non-compliance didn't end there. An audit in early 2024 uncovered similar violations, resulting in an additional $50,000 fine and the appointment of an independent monitor to oversee the company's practices for a full year.
Such oversight, while costly, ensures continued compliance without draining the FMC's resources. Ignoring compliance can lead to substantial financial penalties, and repeated violations can result in even greater scrutiny and additional fines. Therefore, regulated entities should proactively ensure compliance with all statutory and regulatory obligations. Self-reporting violations can mitigate the consequences of non-compliant activity. Don’t wait for penalties and oversight to force your hand—take action now to avoid costly mistakes.
We are delighted to invite you to NCBFAA’s NVOCC Day 2025, an event designed to enhance your understanding and skills in the maritime and logistics industry and minimize those above risks. This event promises to keep you informed about the latest industry developments, including the Ocean Shipping Reform Act (OSRA) of 2022 and 2024, and the proposed Section 301 Tariffs on Chinese vessels.
In today's fast-paced maritime industry, Non-Vessel-Operating Common Carriers (NVOCCs) face several risks that demand vigilant attention and proactive management. These risks include:
• Relationship with Agents: Understanding regulatory obligations and the risks of engaging unvetted agents.
• Benefits of Negotiated Rate Agreements (NRA): Minimizing risks through proper utilization with fewer limitations than Rate Filing.
• House Bill of Lading: Assessing the risks associated with its use.
• FMC Regulatory Audits: Preparing for unexpected audits.
• Insightful discussions on liabilities, common errors, and legal implications.
• Updates from The Hill: Analyzing the impact of new administration policies on maritime business.
Event Highlights: May 22, 2025 (Maritime Day), 10 am – 4 pm, Venable Office NYC
• Network with industry experts and peers.
• Gain valuable insights into the latest trends and best practices.
• Enhance your professional skills and knowledge.
• Access exclusive resources and support from the NCBFAA.
