Membership of the Institute (MICS) is achieved by candidates passing the professional Qualifying Examinations and satisfying the UK Controlling Council of their suitability. Fellowship (FICS) applications are accepted from Members holding a position of seniority who have been engaged in the business or profession of a shipbroker for 6 years. On promotion, Fellows are entitled to call themselves a “Chartered Shipbroker”.
Membership of the Institute is internationally recognised as a mark of professionalism in the shipping business. The Institute is the largest network of professionally qualified shipbrokers worldwide.
Membership confirms a personal commitment to the provision of service to an internationally recognised standard.
CATEGORIES OF MEMBERSHIP
Membership is achieved by candidates passing the Professional qualifying Examinations and having 4 years aggregated time in the shipping industry and then satisfying the Council of theirs.
Fellows are Members with sufficient seniority in the industry. They are entitled to be called a “Chartered Shipbroker”.
A Fellow or Member who has retired from active shipping business. This entitles retired members to all the ordinary privileges of membership, except the right to vote or take part in the affairs of the Institute. A reduced membership fee applies.
A retired person who has been a Fellow or Member of the Institute of more than 25 consecutive years membership. Applications are considered at Controlling Council annually.
This category of membership is open to either:
- Holders of the Foundation Diploma who do not intend immediately to register for the Qualifying Examinations, or
- Those who have completed the Qualifying Examinations but without the work experience requirement for an application to Membership. The maximum time limit for this grade of membership is five years.
A person, registered with the Institute, may
– apply to enter ICS examinations
– apply for exemptions from ICS examinations on a case by case basis
– attend Institute functions including branch events
Applying for Membership (MICS)
- Shall be not less than twenty-one years of age.
- Shall have been engaged in the business or profession of a shipbroker or in a business having a bonafide connection with the profession of shipbroking in the United Kingdom or elsewhere for a period or periods aggregating at least four years either as a principal or employee and shall be so engaged at the time of application for election, provided that if the Controlling Council shall so determine three years may be accepted in the place of four years in the case of any candidate who has served such three years in a firm or company under any Fellow or Fellows;
- He/she shall have passed the Qualifying Examinations of the Institute, or submitted an acceptable Dissertation in lieu thereof, unless exempted therefrom under these Bye-Laws; and
- Shall have satisfied the Controlling Council that he or she is a fit and proper person to become a Member.
- Upon successful election and payment of the appropriate fee, the candidate will receive a certificate stating that he or she is a Member of the Institute of Chartered Shipbrokers and will thereafter be able to add the initials MICS after his or her name. The certificate at all times remains the property of the Institute and has to be returned if for any reason the person ceases to be a Member (at which time the right to be called a Member will cease).
- Those persons meeting the above conditions may apply for election to become a Member of the Institute of Chartered Shipbrokers.
Applying for Fellowship (FICS)
- Shall be not less than twenty-five years of age.
- Shall be a Member.
- Shall have been engaged for the six years immediately preceding the date of application in the office of a person, firm, company or body carrying on the business or profession of a shipbroker and shall have been for not less than one year either:
a principal in a firm or a director of a company carrying on the business or profession of shipbrokers in the United Kingdom or elsewhere; or
a person holding a position of responsibility in an office of any firm or company or other body carrying on the business of shipbrokers in the United Kingdom or elsewhere.
- Shall have satisfied the Controlling Council that he or she is a fit and proper person to become a Fellow.
- Upon successful promotion and payment of the appropriate fee, the candidate will receive a certificate stating that he or she is a Fellow of the Institute of Chartered Shipbrokers and will thereafter be able to add the initials FICS after his or her name and to be referred to as a ‘Chartered Shipbroker’. The certificate at all times remains the property of the Institute and has to be returned if for any reason the person ceases to be a Fellow (at which time the right to be called a Fellow will cease).
Types of Corporate Membership
Full ICS Company Membership is open to any company worldwide that employs at least one professional member of the Institute (MICS or FICS) in a senior position within the company. All Company Members are also required to maintain a minimum of £100,000 – or equivalent – professional indemnity cover.
Companies that cannot meet the professional membership criterion may apply to become an “Affiliate Company of ICS”. This facility allows companies to gain an insight into the activities undertaken by ICS Federation Council on behalf of Company Members with a view to encouraging such companies to take the steps necessary to become a full Company Member; that is by employing a professional member or by encouraging existing staff to gain membership through the examination process. It is not necessary for Affiliate Companies to maintain professional indemnity cover.
Affiliate status is granted for a maximum of five years although an Affiliate that has a member of staff in the final stages of the qualifying examinations can apply to Federation Council for an extension to allow the examination candidate to complete their course. Affiliate status will only be granted to companies that do not currently meet the Company Membership criteria. Companies that already meet the criteria will not be eligible.
Membership fees vary depending on the activities undertaken by the Member. A discount is available for every ICS professional member that the company employs. Company Members in the UK are encouraged to settle their membership fees by direct debit.
Full details of the application procedure for Company Membership, the membership criteria and the fees payable, are available from the South Africa Branch Office
Eligibility for Membership
Subject to Federation, and ultimately Controlling Council approval, any company worldwide that meets the applicable criteria may apply to be a Company Member of the Institute.
The criteria for membership are that:
The Company shall be able to demonstrate to the satisfaction of Council that it is actively engaged in the business or profession of shipbroking;
the company shall have at least one Fellow (FICS) or individual Member (MICS) in a position of seniority, and engaged in the profession of shipbroker, within the company.
Evidence of financial standing and appropriate professional indemnity insurance cover must accompany the application. Further details are included in an information pack that is available from the Institute.
Subject to completion of the vetting procedure, the application will be forwarded to the next Federation and Controlling Council meetings for final approval.
Benefits of Corporate Membership
- Membership of the largest network of professionally qualified agency and broking organisations worldwide
- International recognition of a company-wide commitment to professional standards and education
- The support of Institute Federation Council and its committees in the promotion and protection of members’ interests
- The opportunity to nominate employees to stand as candidates for Federation Council and its committees
- Access through Federation Council to FONASBA, the only body representing agents and brokers at an international level and at European Commission level through ECASBA
- Information on national and international developments in trade, procedures regulations etc., through the bi-monthly bulletin
- Access to agency and broking documents developed by FONASBA
- Use of the revised Institute Standard Trading Conditions. Copies are available from the
- The opportunity for company staff, whether they are professional members or not, to attend branch meetings in their local area and to contribute to the work of that branch
- Although presently concentrated in the United Kingdom and Ireland, Corporate Membership of the Institute of Chartered Shipbrokers is open to any organisation worldwide that has at least one professional member of the Institute, that is an individual qualified to either Membership (MICS) or Fellowship (FICS) status, as either a Director or Partner of the firm or who is wholly engaged in the day-to-day business of the Company.
Linking Company Membership to the professional, educational and ethical standards of the Institute ensures that organisations granted Company Membership operate in accordance with those internationally recognised standards of conduct. The organisation can, if necessary, be sanctioned under the Institute’s disciplinary procedures if it fails to maintain those standards.
A Company Member of the Institute is therefore recognised worldwide as having committed itself and its staff to the maintenance of the highest possible professional standards in both education and all aspects of its operations. The ability to describe the organisation as Company Member of the Institute – and indeed to include the appropriate logo on its stationery – is therefore of significant advantage when dealing with new principals and others in the shipping industry.
Company Members have access to a range of services provided by the Institute both locally and in the wider context. The Institute Federation Council, whose members are nominated and elected by Company Members themselves, represents the interests of Corporate Members. Federation Council is also represented on the Institute’s Controlling Council, having the right to send three of its members to each meeting of that body. Federation Council and its three committees, European, Liner and Tramp & Tanker Agency, meet regularly to discuss matters of interest and concern to the Company Members and to take the necessary action to promote and protect their interests.
Beyond the UK, the Institute’s enthusiastic and active membership of the international agents and brokers association FONASBA, ensures that the voices of Corporate Members are also heard in the international arena. FONASBA also has close links with other international and European organisations representing individual sectors of the maritime industry, such as BIMCO, Intertanko, UNCTAD, IMO, and European bodies representing ports, shipowners, freight forwarders and similar sectors of the industry.
As befits one of the largest members of FONASBA, the Institute currently provides one member of the FONASBA ruling body and one member of the ECASBA Advisory Panel. Senior Institute members also coordinate three ECASBA Working Groups and others are members of the various ECASBA Working Groups. The Secretariat of FONASBA is also located at the Institute offices, further increasing the liaison between Federation Council, the Institute and FONASBA. Ensuring that Company Members have access in their daily work to up-to-date and relevant documents is another task undertaken by Federation Council and both it and FONASBA have been active in this area recently. One of the new documents developed by FONASBA is the revised Standard Liner & General Agency Agreement which is a new form, approved by BIMCO, for those operating in the liner trades. For the tramp trades, FONASBA last year issued their Standard Port Agency Conditions document which acts as a useful check-list for the development and on-going maintenance of a tramp agency relationship.
Getting an employee on to Federation Council or one of its Committees is not the only way a Company can make its voice heard within the Institute. A little known fact is that employees of Company Members, whether they themselves are professional members or not, have the right to attend meetings of the Institute branch covering the location where they are based. Whilst they are not allowed to vote or to stand for office, they can contribute to the activities of the branch and by doing so increase the involvement of the Company Membership on a nationwide basis.
Methods of Payment
The Institute presently accepts payments using the following methods:
The cheque or draft made payable to the Institute of Chartered Shipbrokers must be drawn in South African Rands, and be accompanied by the Remittance Advice or the amended Subscription Notice. Please do not send cash through the post.
Payments are to be in South African Rands, with all bank charges including those of the receiving bank to be borne by the sender, to the bank account shown below. Please ensure that a legible copy of the transmission slip, bearing your name or membership number is faxed to the SA Branch office.
If paying by this method, please ensure that a legible copy of the deposit slip, bearing your name or membership number is faxed to the SA Branch office.