There are two options available in applying for an FMC / NVOCC bond:

FREIGHT ASSOCIATION BOND PROGRAM

If you are a member of your national freight forwarder Association, you may join our Freight Association Bond Program. To apply, we require the following documents:

1.Completed and signed Bond Application
2.Proof of insurance for bill of lading legal liability and Errors & Omissions coverage.
3.Current proof of membership to your national freight forwarding association
4.Copy of house bill of lading (front and back)
5.Evidence of tariff filing

The current annual premium for the Freight Association Bond is USD $1,500 or 1% of the bond amount. Currently, the bond amount has been set at US $150,000 for foreign NVOCCs.

INDIVIDUAL NVOCC BOND

If you are unable to join our Freight Association Bond program, you may join the individual NVOCC bond. We require:

1.Completed and signed Bond Application
2.Proof of insurance for your bill of lading legal liability and Errors & Omissions coverage.
3.Copy of house bill of lading (front and back)
4.Proof of tariff filing
5.Copy of the company’s current business registration certificate
6.Most recent audited company financial statement including Balance Sheet showing assets and liabilities and Profit Loss Statement

The minimum premium for this bond is 2% of the bond amount and can go as high as 5%, depending on the financial strength of your company. Also, the surety company will require signed indemnity agreement from the bond principal. In some situations, the surety may also require a financial guarantee or full collateral in the form of an L/C.