Ocean Shipping Reform Act (1999) (OSRA)


Ocean Shipping Reform Act (1999) (OSRA) :

This legislation further deregulates ocean shipping by permitting the parties to make service contracts confidential from disclosure to other shippers or carriers. A service contract essentially guarantees a minimum volume commitment from shippers in exchange for lower freight rates or better contract terms from carriers. The service contract may alter terms and conditions on nonnegotiable bills of lading

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