The United States is a strict market not only in terms of goods quality standards, but also in many regulations on goods declaration for authorities. In it, there is an agency that plays a very important role - it is the US Federal Maritime Commission (FMC). The FMC license issued by this Commission is the passport that brings Vietnamese logistics enterprises deep into the US market - the largest export market in Vietnam today.
In recent years, the United States has always been Vietnam's largest export market. According to the latest data from the General Statistics Office (Ministry of Planning and Investment), from the beginning of 2022 to now, export turnover is estimated at 185.94 billion USD, up 17.3% over the same period in 2021 estimated trade surplus of 710 million USD. The United States is Vietnam's largest export market with an estimated turnover of 55.9 billion USD in the first half of 2022. Vietnam has also become the 10th largest trading partner of the United States, becoming an important link. important in the supply chain of many types of goods for this market.
According to statistics of the Vietnam Logistics Business Association (VLA), out of more than 30,000 businesses registered to provide logistics-related services, only about 4,000 can afford to provide transportation services international connection by sea. The number of Vietnamese logistics enterprises eligible to issue standard bills of lading directly providing sea transportation services to the US route is not much. Currently, the US Federal Maritime Commission only approves foreign NVOCCs to register when they demonstrate a financial guarantee of up to $150,000 and have multimodal carrier liability insurance.
With the goal of carrying out the task of improving competitiveness, aiming at professional activities for the export freight route to the US market, Glotrans has submitted an application for an FMC license and was officially granted a license on 22/07/2022 with registration number 031924.
With the successful registration and licensing of FMC, Glotrans has confirmed the good financial capacity of the business, the ability to independently sign service contracts directly with shipping lines providing outbound freight services. America, as well as being able to issue sea waybills for shipments exported to the US market to help customers not only optimize freight costs, but also work directly with domestic carriers. U.S. Federal Maritime Commission standards conveniently and quickly.
Please contact Glotrans to best serve the diverse needs of customers' transportation services.
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Company T (Plaintiff – the Insured) entered into an insurance contract with Company B (Defendant – the Insurer). After the insured event occurred, the Insurer alleged that the Insured had violated its obligation to prevent and mitigate losses. The Arbitral Tribunal acknowledged that such an obligation exists but concluded that the Insured did not breach it.
Under the insurance contract, the premium was to be paid in three installments, and in all three, the insured party was late in payment. When a dispute arose, the insurer (Defendant) argued that the insurance contract had terminated before the insured event occurred due to the late premium payment and therefore refused to make an insurance payout. However, the Arbitral Tribunal held a contrary view.
Company Q (Plaintiff – the Insured) and Company B (Defendant – the Insurer) entered into an insurance contract. After an insured event occurred, the parties could not agree on the value of the loss and therefore conducted an assessment. The unilateral assessment conducted by the Insurer was not accepted, while the independent assessment was only partially recognized.
