Section 40702 - Rate standards(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. Pub. L. 109-304, §7, Oct. 6, 2006, 120 Stat. 1536.| HISTORICAL AND REVISION NOTES |
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
| 40702 | 46 App.:1708(b). | Pub. L. 98-237, §9(b), Mar. 20, 1984, 98 Stat. 76; Pub. L. 105-258, title I, §108(5)-(7), Oct. 14, 1998, 112 Stat. 1908. |