For companies or individuals operating as non-vessel owning common carriers, obtaining an NVOCC surety bond is an essential step in ensuring compliance with the Federal Maritime Commission's regulations. Here at The ProSure Group, we offer a simple and easy bonding process. With a network of over 30 different surety companies, our agents can help you secure an NVOCC bond quickly and at a competitive price.
Get information, forms, or applications for a non-vessel owning common carrier bond by calling one of our surety agents or submitting your bond request online. Our team would be happy to guide you through each step of our simple and straightforward bonding process. Contact us today to learn more or request a free, no-obligation quote!
NVOCC bonds, also known as OTI bonds or FMC-84 bonds, are a type of surety bond required by the Federal Maritime Commission for all non-vessel owning common carriers seeking to participate in commerce between the United States and foreign countries. This surety bond serves as a guarantee to shippers and carriers, ensuring that NVOCCs can meet their financial obligations and protecting them from monetary losses if the NVOCC fails to comply with FMC regulations or is negligent in their duties. In the event an NVOCC is negligent or fails to operate according to regulations, the affected parties can file a claim to receive compensation for any monetary losses.
The exact cost of an NVOCC surety bond, also known as the bond premium, will vary depending on a number of factors. Some factors that could affect your NVOCC bond's premium include the following.
Typically, your bond's premium is only a small percentage of the bond's total amount. The current bond amount requirements are $75,000 for U.S.-based NVOCCs and $150,000 for non-U.S.-based NVOCCs. This means a U.S.-based NVOCC with strong credit could pay as little as $750 —just 1% of their total bond amount.
Yes, you can. Even with a less-than-perfect credit history, you can still get bonded. At The ProSure Group, we're committed to helping applicants obtain the bonds they need, regardless of their financial situation. That is why we offer a bad credit bonding program designed for applicants with low credit scores, bankruptcies, and other financial challenges. Contact us today to learn more about how we can help you get bonded with poor credit!
With more than 20 years of industry experience, partnerships with over 30 different surety carriers, and thousands of bonds issued, The ProSure Group has earned a reputation as one of the leading surety agencies in the southeastern U.S.! Our team has a thorough understanding of FMC-84 bonding requirements and can help you obtain an NVOCC surety bond quickly and at the lowest rates possible.
Need an NVOCC bond? Our surety agents will walk you through every step of the process. Contact The ProSure Group today to begin the bonding process or fill out our online application to get a free, no-obligation quote!
Here at The ProSure Group, we offer a simple and easy bonding process. With a network of over 30 different surety companies, our agents can help you secure an NVOCC bond quickly and at a competitive price.