FMC Bonds
The Federal Maritime Commission of the USA requires all NVOCCs trading to/from (but not within) the USA to have a proof of financial responsibility (“FMC bond”) in place. For an unlicensed NVOCC based outside the USA, the FMC bond amount is USD150,000.
NVOCCs importing merchandise to the USA are required by the Customs and Border Protection of the USA (“Customs”) to submit specified shipment information to Customs at least 24 hours prior to the cargo being loaded onto the vessel.
To submit the information on its own (without transferring the obligation and thus information to the (N)VOCC subcontractor), an NVOCC should have its Customs bond (code 3, International Carrier bond) in order to be authorized to participate in the Customs’ Automated Manifest System (“AMS”). The minimum bond amount is USD50,000.
Standard Alpha Carrier Code (SCAC) and Customs-assigned number (for those without a Tax ID or Importer Number in the USA) will also be required for Customs bond application.
Feel free to call us at (852) 2299 5566 or gm@smicsl.com to find out more.