What are the financial responsibility requirements?
Every OTI must furnish proof of acceptable financial responsibility in the form of a surety bond, insurance, or guaranty to cover its transportation-related activities while the OTI is acting as an ocean freight forwarder or an NVOCC. An ocean freight forwarder must furnish proof of financial responsibility in the amount of $50,000 plus $10,000 for each unincorporated branch office in the United States. An NVOCC operating in the United States must furnish proof of financial responsibility in the amount of $75,000 plus $10,000 for each unincorporated branch office in the United States. An unlicensed, foreign-domiciled OTI must furnish proof of financial responsibility in the amount of $150,000. A licensed foreign-domiciled OTI must furnish proof of financial responsibility in the amount of $75,000 plus $10,000 for each additional unincorporated branch office in the United States (not counting the unincorporated presence it has established in the United States to qualify for licensing).
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