Business

Regulation Now Requires Registration of Shipping Agents

A Regulation has been announced which requires shipping agents that operate in the Maldives to register its details with the Maldives Transport Authority.

Under the regulation which has been issued by the Transport Authority, other than the registered shipping agents, no other can operate in the country.

According to the Transport Authority, starting from the 16th of August, Shipping agents will not be able to operate in the Maldives without registering.

The release of consignee delivery loads and direct or indirect payments from pre-agreement for freight services and shall not be charged under the regulation by the shipping agent or the freight forwarder. However, charges capped at MVR 500, can still be charged for delivery orders as administrative fees if a document for the shipping is to be altered.

The agent is also to assist in any damages faced by a second party as a result of negligence from the agent, in addition to assisting the security services in the prevention of environmental damage as well as dangerous incidents when operating ships in Maldivian waters.

Any violation of the regulations could be faced with a fine of MVR 10,000, with a note reminder against repeated offences.

Full details are available at the link below:

Source URL: Corporate Maldives

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