[Code of Federal Regulations]
[Title 22, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 22CFR33.5]

[Page 133-134]
 
                       TITLE 22--FOREIGN RELATIONS
 
                     CHAPTER I--DEPARTMENT OF STATE
 
PART 33--FISHERMEN'S PROTECTIVE ACT GUARANTY FUND PROCEDURES UNDER SECTION 7--Table of Contents
 
Sec. 33.5  Guaranty agreements.

    (a) Period in effect. Agreements are effective for a Fiscal Year 
beginning October 1 and ending on the next September 30. Applications 
submitted after October 1 are effective from the date the application 
and fee are mailed (determined by the postmark) through September 30.
    (b) Guaranty agreement transfer. A guaranty agreement may, with the 
Secretary's prior consent, be transferred when a vessel which is the 
subject of a guaranty agreement is transferred to a new owner if the 
transfer occurs during the agreement period.
    (c) Guaranty agreement renewal. A guaranty agreement may be renewed 
for the next agreement year by submitting an application form with the 
appropriate fee for the next year in accordance with the Secretary's 
annually published requirements regarding fees. Renewals are subject to 
the Secretary's approval.
    (d) Provisions of the agreement. The agreement will provide for 
reimbursement for certain losses caused by foreign countries' seizure 
and detention of U.S. fishing vessels on the basis of claims to 
jurisdiction which are not recognized by the United States. Recent 
amendments to the Magnuson Fishery Conservation and Management Act (16 
U.S.C. (1801 et seq.) assert U.S.

[[Page 134]]

jurisdiction over highly migratory species of tuna in the U.S. exclusive 
economic zone (EEZ). Accordingly, as a matter of international law, the 
United States now recognizes other coastal states' claims to 
jurisdiction over tuna in their EEZ'S. This change directly affect 
certification of claims filed under the Fishermen's Protective Act. 
Participants are advised that this means that the Department will no 
longer certify for payment claims resulting from the seizure of a U.S. 
vessel while such vessel was fishing for tuna within the exclusive 
economic zone of another country in violation of that country's laws. 
Claims for detentions or seizures based on other claims to jurisdiction 
not recognized by the United States, or on the basis of claims to 
jurisdiction recognized by the United States but exercised in a manner 
inconsistent with international law as recognized by the United states, 
may still be certified by the Department.