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Why Do Freight Forwarders and NVOCCs need OTI Bonds?

valid until: 14 Nov 2020date published: 14 Nov 2019

In order to obtain a license, an individual needs to submit the proof financial responsibilities in the form of OTI Bonds NY to FMC. All the US-based and licensed non-US-based NVOCCs are required to post a $75,000 bond while for freight forwarders the bond amount is a minimum of $50,000. An additional amount of $10,000 is added in each bond for every unincorporated US branch office offering freight forwarding or NVOCC services.

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e-mail: clarksamuel022@gmail.com

web site: https://cbicustomsbonds.com/

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Why Do Freight Forwarders and NVOCCs need OTI Bonds?

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