What is an OTI bond?
What is an OTI bond?
What is an OTI Bond? An Ocean Transportation Intermediary Bond is a surety bond that is required for licensure to operate as an Ocean Freight Forwarder (OFF) or as a Non-Vessel-Operating Common Carrier (NVOCC).
What is an OTI number?
A freight intermediary (also known as an OTI or Ocean Transportation Intermediary) is someone that assists an exporter or an importer to secure the best freight rates possible while providing the quickest routing for their cargoes and also preparing and processing the documents related to these shipments.
How can I get OTI license?
Steps to Apply for an OTI License
- Appoint a qualifying individual (QI)
- Fill out the FMC-18 form.
- Submit the form and pay the application fee.
- Establish a presence in the U.S (for non-US-based applicants only)
- Submit proof of financial responsibility.
What does the Federal Maritime Commission do?
About the Federal Maritime Commission. The Federal Maritime Commission (FMC) is the independent federal agency responsible for regulating the U.S. international ocean transportation system for the benefit of U.S. exporters, importers, and the U.S. consumer.
What is FMC bond?
The Federal Maritime Commission (FMC), the agency regulating international ocean transportation, requires Ocean Transportation Intermediaries (OTIs) to provide proof of financial security in the form of an FMC-48 surety bond.
What is FMC filing?
What is an FMC tariff, who can file it and who needs an FMC license? As per the regulations set up by the FMC, anyone operating seaborne and associated services such as VOCC and OTIs must file a tariff with the FMC. VOCC stands for Vessel Operating Common Carriers.
What FMC-18?
Principal Purpose – The primary purpose for the information requested in Form FMC-18 Rev., is to assist in determining whether an applicant for a license as an ocean transportation intermediary meets the necessary qualifications set forth in 46 CFR Part 515 to be eligible for such a license.
What is FMC stand for?
Food Machinery Corporation
manufactured canning machinery. At this time the company changed its name to Food Machinery Corporation, and began using the initials FMC. In 1948, the company name changed again, to Food Machinery & Chemical Corporation. In 1961, Food Machinery & Chemical Corporation was changed to simply FMC.
What is non FMC?
The Federal Maritime Commission (FMC) is a USA federal agency. If agent is not FMC licensed or registered, the agent cannot use their sea freight rates to sell sea freight to or from the USA.
What kind of payment technology does OTI use?
OTI is the pioneer and leading developer of cutting-edge contactless unattended payment solutions incorporating NFC (Near Field Communications) technologies. We make it simple to integrate and adopt EMV payment solutions.
Where can I find a search of Otis?
A search of OTIS will provide information about offenders previously or currently under the jurisdiction or supervision of the MDOC.
How long has OTI been in the market?
With over 30 years of expertise, 1,000,000 hardware devices sold worldwide and a growing Fortune 500 customer base, OTI is one of only four companies in the world with EMV modular certification making it virtually future proof for implementing changes and upgrades.
Is the NVOCC Otis on the OTI list?
NVOCC OTIs that do not have an active Form FMC-1 on file with the Commission are not considered to be in compliance with regulatory requirements, and therefore, are not included on this list. If you have any questions regarding the OTI list, please contact Commission staff at (202) 523-5787