Ocean Freight Forwarders and Non-Vessel Operating Common Carriers must comply with licensing requirements to file tariffs and issue ocean bills of lading for cargo moving both in and out of the United States. One of these requirements is to provide proof of financial responsibility in the form of a bond. IB&M has partnered closely with the Federal Maritime Commission to provide and manage these vital bonds.
Our underwriting team and a thirty plus years’ reputation with the FMC makes filing, monitoring, and updating bonds with the agency a painless process. We work closely with our OTI clients reviewing their contracts of carriage and liability limits to ensure they coincide with international treaties. With issuing ocean bills of ladings, comes with it, increased legal liability exposure. We will ensure your company is protected by both E&O and freight legal liability coverage.