CORPORATION Bond - Ocean Transportation Intermediary (OTI) (FMC-48) in All States
Table of Contents
Brief Summary
The FMC-48 bond is the most common way an ocean freight forwarder or NVOCC proves financial responsibility to the Federal Maritime Commission, and the license is not issued until it is on file. Most buyers get the amount wrong because it depends on what the company does. Pick the right tier and the Form FMC-48 goes to the Commission by email once you are conditionally approved.
Every ocean transportation intermediary must show financial responsibility before it serves U.S. trades, and the Form FMC-48 surety bond is one way to do it under 46 CFR 515.22. The amount is set by 46 CFR 515.21: $50,000 for an ocean freight forwarder, $75,000 for an NVOCC in the United States, and $150,000 for a foreign NVOCC that registers instead of licensing. This version is signed by a corporate principal.
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How to Apply for a CORPORATION Bond:
- Work out your tier: $50,000 freight forwarder, $75,000 U.S. NVOCC, or $150,000 registered foreign NVOCC.
- File Form FMC-18 and pay the $1,304 license application fee.
- Wait for notice of conditional approval from the Commission.
- Have the surety execute Form FMC-48 with the corporate principal block completed.
- Email the bond to the Bureau of Certification and Licensing at bcl@fmc.gov.
- Keep the bond in force for as long as you hold the license or registration.
Detailed Information About the All States CORPORATION Bond:
The amount depends on what you do
46 CFR 515.21 sets three figures. A company in the United States acting as an ocean freight forwarder posts $50,000. A company in the United States acting as a non vessel operating common carrier (NVOCC) posts $75,000. A registered NVOCC, meaning one whose primary place of business is outside the United States and who registers with the Commission instead of getting a license, posts $150,000. A company that does both forwarding and NVOCC work should confirm the required amount with the Bureau of Certification and Licensing before the bond is written.
The bond is one of three options. Under 46 CFR 515.22 an OTI can file a surety bond on Form FMC-48, insurance on Form FMC-67, or a guaranty on Form FMC-68. The surety must be one found acceptable by the Secretary of the Treasury.
When it gets filed
The bond is not the first step. You apply for the license on Form FMC-18 with a $1,304 filing fee under 46 CFR 515.5. Once the Commission tells you the application is conditionally approved, you file proof of financial responsibility with the Director of the Bureau of Certification and Licensing at bcl@fmc.gov. No license is issued until the bond is received. Licenses then renew on sequential three year cycles.
Corporate principal
Form FMC-48 has separate signature blocks for an individual or partners and for a corporation. This page covers the corporate version, which lists the corporate principal, its state of incorporation, any trade name, and the officer signing with the corporate seal. Under 46 CFR 515.22(e), every filing must clearly show the principal's name, trade name, address, state of incorporation or formation, and the signer's printed name and title. Where several companies share a trade name, each one needs its own proof of financial responsibility.
How claims work
Shippers, common carriers and other affected persons can seek payment for damages from the OTI's transportation related activities, and the Commission can collect civil penalties. Under 46 CFR 515.23 the claimant notifies both the surety and the OTI. The bond may pay if the OTI consents or fails to respond within 45 days and the surety finds the claim valid. If nothing is resolved within 90 days, the bond answers for a final Commission reparations order or court judgment. The surety then looks to the company for repayment.
Keeping it in force
Either party can cancel the bond with 30 days written notice to the Commission. Under 46 CFR 515.26 the license is revoked as of the termination date unless a replacement bond, effective no later than that date, is already on file.
Eligibility and Requirements for an All States CORPORATION Bond:
- Surety company found acceptable by the Secretary of the Treasury.
- United States of America named as obligee on Form FMC-48.
- Principal name, trade name, address and state of incorporation exactly as shown in the FMC filing.
- Signature by a corporate officer with printed name and title.
- Separate bond for each corporation operating under a shared trade name.
- Credit and financial review of the company and its owners by the surety.
All States CORPORATION Bond FAQs:
46 CFR 515.21 sets $50,000 for an ocean freight forwarder, $75,000 for an NVOCC in the United States, and $150,000 for a registered NVOCC based outside the United States.
After the Commission notifies you that your license application is conditionally approved. The license is not issued until the bond is on file.
Yes. 46 CFR 515.22 also accepts insurance on Form FMC-67 or a guaranty on Form FMC-68, each with its own rating and documentation requirements.
A company that exclusively moves used household goods for the Department of Defense or under the GSA International Household Goods Program is outside these rules, though those agencies may impose their own bonding.
Cancellation takes effect 30 days after the Commission receives notice. Without a replacement bond effective by that date, the license is revoked.
The surety reviews the company's credit, finances and experience. Stronger credit generally means a lower annual premium on the same bond amount.
