In a reverse auction bidding process, this program permanently removed 25 fishing vessels and 62 fishing licenses and permits for $97,399,357 from the following crab fisheries: 1) Bristol Bay Red King; 2) Bering Sea Snow (Opilio) and Tanner (Bairdi); 3) Aleutian Island Red King; 4) Pribilof Red King and Pribilof Blue King; and 5) St. Matthew Blue.
Fees for repayment of the loan are authorized under section 312(d)(2)(C) of the Act and are to be paid on harvests of the above listed crab species. Fish sellers are required to pay the fee and all parties making the first ex-vessel purchase of the crab (“fish buyers”) are required to collect the fee (based on the crab's full delivery value), account for and forward the fee revenue to repay the loan. The current fee rates are: 1) Bristol Bay Red King – 2.5%; 2) Bering Sea Snow (Opilio) and Tanner (Bairdi) – 5.0%; 3) Aleutian Island Red King – 5.0%; 4) Pribilof Red King and Pribilof Blue King – 5.0%; and 5) St. Matthew Blue – 5.0%. The fee rate may not exceed 5 percent of the delivery value. Fee collection to repay the 30-year loan began on October 17, 2005. The interest rate is fixed at 6.54 percent.
Please see the links below for more information and visit Pay.gov to submit fee collection payments.
Click here for a summary of loan balances.
Bering Sea and Aleutian Islands Crab Buyback Loan Fees are due by the 7th day of the month after the month in which landings occurred. Buyback fees received after that date are subject to a 1.5 percent per month (or portion thereof) late fee.
- Lockbox Address Change - 8/30/17
- Brown King Crab Loan Repayment Letter - 2/15/17
- Crab Buyback Vessel Uses Letter - 3/13/09
- Fee Rate Adjustment Letter - 02/13/13
- CDQ Exempt from Fee Letter - 05/10/06
- Fee Payment Collection Instructional Letter - 09/19/05
Regulations & Notices
Michael A. Sturtevant
Financial Services Division (F/MB5)
Office of Management and Budget
1315 East West Highway
Silver Spring, MD 20910