Fisherman's Contingency Fund Program Benefits

The Fishermen's Contingency Fund Program stands as a crucial safety net for commercial fishermen in the United States, providing compensation for economic and property losses incurred due to oil and gas obstructions on the U.S. Outer Continental Shelf. In this article, we will delve into the benefits offered by the program, eligibility criteria, and the essential documents required for application.

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.

Fisherman's 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.

Who 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. citizens. 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 Fisherman's 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.

Documents Required for Fisherman's Contingency Fund Program Application

When applying for the Fisherman's Contingency Fund Program, individuals should prepare a comprehensive set of documents, including:

• Application Form: A completed application form provided by the program or administering agency.
• Proof of Fishing Activities: Documents such as fishing licenses, permits, or vessel registration to establish engagement in fishing.
• Financial Records: Evidence of income and financial status, including tax returns and income statements.
• Documentation of Losses: Relevant evidence, such as photographs, repair estimates, or other documents demonstrating property losses.
• Identification Documents: Personal identification documents like a driver's license or passport.
• Bank Statements: Recent bank statements to verify financial information.
• Insurance Documents: If applicable, proof of insurance policies and relevant details.
• Business Registration: For commercial fishing enterprises, documentation of business registration or incorporation.
• Proof of Residence: Documents verifying residence in the eligible area.
• Fishing Logbooks: If applicable, providing fishing logbooks or records to demonstrate the extent of fishing activities.

Benefits of the Fisherman's Contingency Fund Program

Compensation for Economic Loss: 

Fishermen affected by the inability or reduced capacity to fish due to damage sustained from oil or gas obstructions can receive compensation for 50 percent of gross income lost. This emphasis on gross income, rather than profits, ensures a fair assessment of the economic impact on the fishermen.

Property Loss or Damage Compensation:

The program also extends coverage for property losses or damages incurred during fishing activities. Fishermen can claim for the repair or replacement of damaged equipment or vessels, subject to the submission of supporting documentation.

Presumption of Causation:

Quick reporting is critical in gaining a presumption of causation. Fishermen are required to file a report to NOAA Fisheries within 15 days of discovering the damage or loss. This timely reporting facilitates a smoother claims process.

Revolving Fund Structure:

The Fishermen's Contingency Fund operates as a revolving fund within the U.S. Treasury, ensuring its sustainability without fiscal year limitations. The fund is comprised of assessments paid by offshore oil and gas interests, creating a continuous source of support for affected fishermen.

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

FAQ's- Fisherman's Contingency Fund Program Benefits

Q: What is the Fisherman's Contingency Fund Program, and what does it aim to provide?

Ans: The Fisherman's Contingency Fund Program is designed to compensate commercial fishermen in the United States for economic and property losses resulting from oil and gas obstructions on the U.S. Outer Continental Shelf. It aims to offer financial support to fishermen facing challenges due to damage sustained during their fishing activities.

Q: How is compensation for economic loss determined under the Fisherman's Contingency Fund Program?

Ans: Compensation for economic loss is based on 50 percent of gross income lost, providing a fair assessment of the impact on fishermen. This approach focuses on gross income rather than profits, ensuring a more comprehensive evaluation of the economic losses suffered.

Q: What is the significance of the presumption of causation in the Fisherman's Contingency Fund Program?

Ans: Quick reporting is crucial in gaining a presumption of causation. Fishermen are required to file a report to NOAA Fisheries within 15 days of discovering damage or loss. This presumption streamlines the claims process, facilitating faster and more efficient support for affected individuals.

Q: Who is eligible to benefit from the Fisherman's Contingency Fund Program?

Ans: To be eligible for the program, individuals must be commercial fishermen actively engaged in fishing activities. Additionally, eligibility is limited to U.S. citizens who can provide evidence of losses in income due to an inability or reduced capacity to fish caused by oil or gas obstructions.

Q: How does the Fisherman's Contingency Fund Program address property losses or damages?

Ans: The program extends coverage to property losses or damages incurred during fishing activities. Fishermen can submit claims for the repair or replacement of damaged equipment or vessels, provided they present supporting documentation along with their application.

Q: What is the structure of the Fishermen's Contingency Fund, and how does it ensure sustainability?

Ans: The Fishermen's Contingency Fund operates as a revolving fund within the U.S. Treasury, without fiscal year limitations. It is comprised of assessments paid by offshore oil and gas interests, creating a continuous and sustainable source of support for affected fishermen.

Q: What documents are required for individuals applying to the Fisherman's Contingency Fund Program?

Ans: Applicants are required to submit a comprehensive set of documents, including a completed application form, proof of fishing activities (licenses, permits, etc.), financial records (tax returns, income statements), documentation of losses (photographs, repair estimates), identification documents, bank statements, insurance documents (if applicable), business registration (for enterprises), proof of residence, and fishing logbooks if applicable.

Q: How soon must fishermen file a report after discovering damage or loss to gain presumption of causation?

Ans: Fishermen are required 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. This timely reporting is essential in establishing a presumption of causation.

Q: What is the timeframe for submitting a claim under the Fisherman's Contingency Fund Program?

Ans: After the initial report is filed, fishermen must submit a claim within 90 days of the date the loss or damage was discovered. The claim should include specific information about the vessel and crew, a statement of circumstances, the amount claimed for property damage, and supporting documentation for economic loss.

Q: How can individuals ensure they have the most accurate and up-to-date information about the Fisherman's Contingency Fund Program?

Ans: Individuals are advised to consult with relevant authorities or organizations administering the program in their region. The guidelines and requirements may vary, so seeking the latest information directly from the administering agency ensures accurate and current details for the application process.

Conclusion: Fisherman's Contingency Fund Program Benefits

The Fisherman's Contingency Fund Program plays a vital role in supporting commercial fishermen facing economic and property losses. Understanding the benefits, eligibility criteria, and preparing the required documents are crucial steps in navigating this program effectively. For the latest and most accurate information, individuals are advised to consult with relevant authorities or organizations administering the program in their region.