Section 15

Summary of Section 15

A provision of the Shipping Act of 1916 (46 U.S.C. 814) that permits ocean carriers to enter into agreements to eliminate rate and service competition between them. Approval by the Federal Maritime Commission of a Section 15 agreement extends to the carriers involved immunity from the penalties of the antitrust statutes for collaboration undertaken within the scope of the approved agreement. A Conference (read this legal term for further details), for example, derives its antitrust immunity from Section 15 agreements.

(Main Author: William J. Miller)