Ocean Transportation Intermediary (OTI) Group Supplemental (FMC-69) - CORPORATION — required surety bond in Federal. Apply online in minutes.
An Ocean Transportation Intermediary (OTI) Group Supplemental Bond (FMC-69) for a corporation is a federal surety bond that provides coverage for transportation entities operating through an approved association. It guarantees that the corporate entity will comply with Federal Maritime Commission (FMC) regulations and fulfill all financial obligations arising from its ocean transportation activities. This bond acts as a financial safeguard for shippers, carriers, and the federal government.
Corporations operating as Non-Vessel-Operating Common Carriers (NVOCCs) or ocean freight forwarders typically need this bond when joining an approved OTI group or association. It applies to entities that manage international ocean freight but do not operate the vessels themselves. You should verify specific bonding requirements with the Federal Maritime Commission based on your corporate structure and group membership.
The Federal Maritime Commission generally requires this bond to protect the shipping public from financial loss or damages caused by a corporate OTI's failure to perform its contracted duties. It ensures that funds are available to cover shipping-related judgments, regulatory penalties, or unresolved freight charges. Ultimately, it helps maintain the integrity and reliability of the international ocean transportation industry.
To get started, click Apply Now to complete our secure, approximately 5-minute online application. Once approved, Noah Insurance Agency will issue your bond and deliver it directly to you by email. For any questions during the process, our team is available nationwide at 814-718-0060.
Premiums for this bond vary based on factors such as the corporation's financial health, credit history, and the required bond amount. Please apply online with Noah Insurance Agency for an exact quote.
The Federal Maritime Commission determines the required bond amount based on your specific license type and group association structure. Always verify your exact bonding requirements directly with the FMC before purchasing.
This bond generally acts as supplemental coverage for members of an association, but requirements vary by situation. You should consult the Federal Maritime Commission to determine which specific bond forms your corporation needs.
Yes, approval is often possible even with less-than-perfect credit, though premium rates may vary. Apply online or contact Noah Insurance Agency at 814-718-0060 to explore your specific coverage options.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
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