Please Fill Out The Form Listed Below To The Left To Apply For Your Bond. To Learn More About Your Bond, Please Use The Information Provided On The Bottom Right.Once Submitted, The Application Will Be Emailed To Our Agents, Who Will Contact You Shortly.
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Ocean Transportation Intermediary (OTI) ocean freight forwarders need to submit proof of financial responsibility to the Federal Maritime Commission. OTIs can submit surety bonds to show proof of financial responsibility to the FMC.
The bond amounts for OTI (Ocean freight forwarders) bonds are required in the amount of $50,000 plus $10,000 for each unincorporated branch office in the United States conducting ocean freight forwarder services.
EZ Surety Bonds rates OTI Bonds with multiple surety companies, all of which are acceptable to the U.S. Department of Treasury and listed on their Listing of Approved Sureties (Department Circular 570). Furthermore, the OTI surety bond is properly signed by the surety, and our agency approved and licensed power of attorney.
An Ocean Transportation Intermediary surety bond is needed, as licensed OTIs cannot maintain a license without active and acceptable proof of financial responsibility (surety bond). If a bond is cancelled, or has not been obtained, the license will not be issued, or will be revoked thirty days after receipt of the notice of cancellation by the Commission. A Revocation Order is then issued to the licensee and a notice appears in the Federal Register. Also, the OTI's name is then removed from the list of active OTI's on the Commission's website.
Sometimes the surety will issue a recession of the cancellation or the FMC will receive replacement coverage for the cancelled bond shortly after cancellation and revocation. If there not been a lapse in coverage and a reasonably short period of time has elapsed, the Federal Maritime Commission can reissue the license and issue a Notice of Reissuance or a Recession of Revocation, and if the OTI has been removed from the Form FMC-1 List, a new FMC-1 will need to be filed.
EZ Surety Bonds provides you with a free quote, just complete the form to apply, or contact our agency at 1-866-546-4605 or email Info@WarnockAgency.com.
Our agents will quote your bond, and contact you to write your bond. We automatically rate your OTI bond with multiple approved surety companies to provide you with the best rest and coverage!