Brokerage refers to payment by a common carrier to an ocean freight broker for the performance of services. Ocean freight
broker is an entity which is engaged by a carrier to secure cargo for such carrier and/or to sell or offer for sale ocean
transportation services and which holds itself out to the public as one who negotiates between shipper or consignee and
carrier for the purchase, sale, conditions and terms of transportation.
An Ocean Freight Broker does not prepare and process the documentation pertaining to those shipments.
An ocean freight broker is not required to be license and activities are not regulated by the Code of Federal Regulations .
Definition is no longer relevant to commissions regulatory activities. 46 CFR 515 Docket No. 13-05 RIN 3072 - AC44
Copyright © Cargorates.com 2019
3322 36th Avenue S, Seattle, Wa 98144
Telephone/Fax: 800 721 2540