An Ocean Freight Forwarder (OFF) bond is a type of financial security that is required by the Federal Maritime Commission (FMC) for companies that operate as Ocean Freight Forwarders (OFFs) in the United States. OFFs are companies that arrange for the transportation of goods by ocean carrier on behalf of shippers, but do not own or operate the vessels themselves.
The purpose of an OFF bond is to provide financial protection for shippers and other parties in the event that an OFF fails to fulfill its obligations or causes financial loss. OFF bonds are intended to ensure that these companies have the financial resources to meet their obligations and to provide compensation for any losses that may occur.
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