Freight Claims Settlement Act

Freight Claims Settlement Act - Amends the Interstate Commerce Act to require common or contract carriers to acknowledge receipt of a claim in writing alleging loss or damage to property transported by such carrier within 30 days after the receipt of such claim. Requires such carriers, within 120 days after the receipt of such claim, to either: (1) pay such claim in full; (2) make a firm compromise offer in writing; or (3) deny such claim in writing. Sets forth civil penalties on a per day basis for failure to meet such time limitations. Authorizes the Interstate Commerce Commission to prescribe such rules and regulations as may be necessary to carry out the provisions of this Act.