NVOCC bonds are required by all Ocean Transportation Intermediaries (OTIs) and ensure compliance with the Ocean Shipping Reform Act.
Currently, a domestic NVOCC is required to execute a $75,000 NVOCC Bond (Form 48); and a $150,000 NVOCC Bond is required for a foreign NVOCC. If there are several NVOCC branches domestically, each one of the branches will add $10,000 to the NVOCC Bond total.
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