Federal Maritime Commission NVOCC Bond - $75,000Click Here To Print The Application
The Non-Vessel Operating Carrier Bond, also known as an NVOCC Bond, is required by all those engaged as Ocean Transportation Intermediaries (OTI's) and guarantees compliance with the Ocean Shipping Reform Act.
The function of an NVOCC is to assume legal possession of a shipper's cargo and through consolidation of the shipment, arrange for the packing, transportation and the loading of shipping containers bound for ocean transit.
The NVOCC bond is in place to assure that payments for damages against the NVOCC arising from transportation related activities. This NVOCC Bond also serves as a guarantee that any fines levied by the Federal Maritime Commission are financially backed with a bond.
Currently, a domestic NVOCC is required to execute a $75,000 NVOCC Bond (Form 48); and a $150,000 NVOCC Bond is required for a foreign NVOCC. If there are several NVOCC branches domestically, each one of the branches will add $10,000 to the NVOCC Bond total.
This Federal Maritime Commission NVOCC Bond requires underwriting and we offer a 24 hour free approval process for your NVOCC Bond.
Our Free 24 Hour Quote Procedure
How to cut down the approval process and keep your cost low:
1. Our applications are all that's usually needed to get you a price.
2. Occasionally, more information is needed. If so, we will contact you within 24 hours.
3. If you have credit issues, approvals might need an additional day.
4. We never require an application fee. All quotes are 100% free.
5. Bond approvals, like loans, are based on personal credit, financial strength of the owner, bond amount and type of bond. The more information you provide, the better chance you have of getting the lowest available price and a faster approval.
Complete our fast and easy online application by clicking the link below. Most will receive a free quote for a Federal Maritime Commission NVOCC Bond within 24 hours.
Click Here To Print The Application