Fishermans Contingency Fund Program Benefits
The Fishermen's Contingency Fund (FCF) was established to compensate fishermen for economic and property losses caused by oil and gas obstructions on the U.S. Outer Continental Shelf. The fund was established in the U.S. Department of the Treasury, without fiscal year limitation, as a revolving fund comprised of assessments paid by offshore oil and gas interests. Compensation for economic loss is based on 50 percent of gross income lost, rather than loss of profits.
Fishermans Contingency Fund Program
The Fishermen's Contingency Fund was established to compensate fishermen for economic and property losses caused by oil and gas obstructions on the U.S. Outer Continental Shelf. The fund was established in the U.S. Treasury, without fiscal year limitation, as a revolving fund comprised of assessments paid by offshore oil and gas interests. Fishermen who can prove that they suffered losses in income due to inability or reduced capacity to fish as a result of the damage sustained may be eligible for compensation for economic loss and property loss or damage.
Compensation for economic loss is based on 50 percent of gross income lost, rather than loss of profits.The Fishermen’s Contingency Fund requires commercial fishermen to file a report to NOAA Fisheries within 15 days after the date on which the vessel first returns to port after discovering the damage or loss in order to gain presumption of causation. After this initial report is filed, a claim must be submitted within 90 days of the date the loss or damage was discovered.
Claims should include specific vessel and crew information, a full statement of the circumstances concerning the damage or loss, the amount claimed for property damage or loss, a full statement of the type and extent of damage, and the amount claimed, with supporting documentation, for any economic loss.
Fisheries Finance Program BenefitsWho is eligible for Fisherman's Contingency Fund Program?
To be eligible for this benefit program, you must be a commercial fisherman and a U.S. citizen. You must be able to prove that you suffered losses in income due to inability or reduced capacity to fish because of the damage sustained from oil or gas obstruction.
Documents required for Fishermans Contingency Fund Program
Please note that specific requirements may differ, so it's crucial to check with the relevant authorities or organizations in your area for the most accurate and up-to-date information. Here is a general list of documents that may be required:
- Application Form: A completed application form provided by the program or agency administering the fund.
- Proof of Fishing Activities: Documents demonstrating that the applicant is engaged in fishing activities, such as fishing licenses, permits, or vessel registration documents.
- Financial Records: Evidence of income and financial status, such as tax returns, income statements, or financial reports. This may help assess the impact of unforeseen events on the applicant's livelihood.
- Documentation of Losses: If the fund is designed to assist with specific losses (e.g., damage to equipment or vessels), documentation of the losses may be required. This could include photographs, repair estimates, or other relevant evidence.
- Identification Documents: Personal identification documents, such as a driver's license, passport, or other government-issued ID.
- Bank Statements: Recent bank statements may be required to verify financial information and facilitate fund disbursement.
- Insurance Documents: If the program involves insurance coverage, proof of insurance policies and relevant details may be necessary.
- Business Registration: For those involved in commercial fishing enterprises, documentation of business registration or incorporation may be required.
- Proof of Residence: Documents verifying the applicant's residence in the eligible area, such as utility bills or lease agreements.
- Fishing Logbooks: If applicable, providing fishing logbooks or records may help demonstrate the extent of the fishing activities.
- Any Additional Documentation: Depending on the specific criteria of the program, additional documents may be required. It's essential to carefully review the program guidelines and contact the administering agency for clarification.
Always consult with the relevant authorities or organizations to ensure that you have the most current and accurate information regarding the application process and required documents for any Fisherman's Contingency Fund Program in your region.
How do I apply for Fisherman's Contingency Fund?
The FCF requires commercial fishermen to file a report to the National Marine Fisheries Service within 15 days after the date on which the vessel first returns to port after discovering the damage or loss in order to gain presumption of causation. After this initial report is filed, a claim must be submitted within 90 days of the date the loss or damage was discovered. Claims should include specific vessel and crew information, a full statement of the circumstances concerning the damage or loss, the amount claimed for property damage or loss, a full statement of the type and extent of damage, and the amount claimed, with supporting documentation, for any economic loss.
How can I contact someone?
For more information, visit the FCF Program page.
- Or call: 301-427-8725
- You may also write to:
- FCF Program
- Financial Services Division (F/MB5)
- National Marine Fisheries Service
- 1315 East West Highway
- Silver Spring, MD 20910 - 301-427-8725