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46 U.S.C. § 40702 - U.S. Code - Unannotated Title 46. Shipping § 40702. Rate standards

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Definition.--In this section, the term “constructive costs” means the costs of another carrier, other than a controlled carrier, operating similar vessels and equipment in the same or a similar trade.

(b) Standards.--In determining whether a rate, charge, classification, rule, or regulation of a controlled carrier is just and reasonable, the Federal Maritime Commission--

(1) shall take into account whether the rate or charge that has been published or assessed, or that would result from the pertinent classification, rule, or regulation, is below a level that is fully compensatory to the controlled carrier based on the carrier's actual costs or constructive costs; and

(2) may take into account other appropriate factors, including whether the rate, charge, classification, rule, or regulation is--

(A) the same as, or similar to, those published or assessed by other carriers in the same trade;

(B) required to ensure movement of particular cargo in the same trade; or

(C) required to maintain acceptable continuity, level, or quality of common carrier service to or from affected ports.

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Cite this article: FindLaw.com - 46 U.S.C. § 40702 - U.S. Code - Unannotated Title 46. Shipping § 40702. Rate standards - last updated January 01, 2024 | https://codes.findlaw.com/us/title-46-shipping/46-usc-sect-40702/

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