Regulations for Shipping Agents

1. The Authority shall issue a license for the shipping agent for an amount of SAR 30,000 to conduct the activity in all ports. Such license shall be valid for 36 months from the date of its issuance. 2. The expiration of the shipping agent’s license shall not be an exemption from performing any of their obligations towards the operator or the ships, subject of agency, including fees, wages, fines, and compensations for any damage discovered within 3 months of the ship departure date. 3. The shipping agent shall provide the relevant port administration with an irrevocable, unconditional, and unrestricted bank guarantee issued in an amount of SAR 500,000. The bank guarantee shall be valid throughout the validity period of the license and three months after its expiration. 4. The shipping agent shall obtain the Authority's prior approval on the continuity of the license validity before any modifications to their legal status. The Authority may approve or disapprove the license continuity if such modifications are made without prior notification. 5. All Saudi and foreign ships shall appoint a shipping agent before entering the ports. 6. Within 4 months of each year’s end, the shipping agent shall provide the Authority with an annual report of the agency services provided during the previous year.