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.