What is a NVOCC Bond?
Companies that are required to obtain an NVOCC bond are responsible for packing, lading and transporting shipping containers directly with an ocean common carrier. The NVOCC acts as a common carrier and issues a bill of lading to the shipper. Then, the NVOCC ships the container with a common carrier.
The current NVOCC bond amount required is $75,000, and it's required by the Federal Maritime Commission (FMC).
NVOCC stands for Non Vessel Owning Common Carrier. NVOCC operation comprises of sales, stuffing and transport of containers to gateway ports. The bill of lading issue and overseas distribution is handled by the agents of NVOCC.
Frequently Asked Questions
The cost is usually 1 – 7% of the bond amount. Keep in mind that pricing varies depending on your financial strength, e.g. personal credit, financials, etc.
Apply and get approved on our website, sign the surety agreements, and we will ship the bond out. If you would like to learn more about what surety bonds are and how they work, you can read our detailed guide here.
Yes, it’s possible, but poor credit usually results in higher rates.
Yes. We provide the lowest rates possible as a result of the large volume of bonds we write.
You must contact us immediately, as we have a team of claim specialists here to find a resolution for you. Keep in mind, it is crucial that you work with an expert in the surety industry. Learn more about how to ensure you choose the proper bond company.
You can take a look at our full list of license and permit bonds.