MARAD Makes Inflation Adjustments to civil Penalties

Wednesday, June 04, 2003
The Maritime Administration (MARAD) issued a rule adjusting its maximum civil penalties for inflation. Violations of regulations related to commercial instruments and maritime liens and to unlawful transfer of a documented vessel may now result in a civil penalty of $12,000, rather than $11,000. Violations of regulations related to requirements for trustees of mortgaged vessels and vessel interests and purchasers of documented vessels under order of a district court may now result in a civil penalty of $30,000, rather than $27,500. Source: HK Law
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