Specialty Bonds

ATA Carnet Bond

Concurrent with the issuance of an ATA Carnet, the holder must provide security to the guaranteeing association in the United States, the United States Council for International Business (USCIB). The USCIB requires security from all Carnet holders in the event of a default. Generally, the required amount is 40% of the total value of the General List, but there are some exceptions.

Ocean Transportation Intermediary (OTI)

Companies operating as ocean freight forwarders and Non-Vessel Operating Common Carriers (NVOCCs) in the United States are required to be licensed and bonded as Ocean Transportation Intermediaries (OTIs). This bond guarantees that contractual relationships with shippers and carriers will be fulfilled. Additionally, the bond responds to claims filed by the shipping public to ensure compliance with Federal Maritime Commission regulations.

BMC-84 Bond (Property Broker Bond)

The FMCSA requires that property brokers (not issuing a bill of lading) maintain a BMC-84 Bond in the amount of $75,000. Any individual or company who operates as a transportation broker must obtain this bond.

Surface Deployment and Distribution Command (SDDC) Bond

This bond secures performance and fulfillment of carrier obligations to deliver Department of Defense (DOD) freight. It will cover any instance where a carrier cannot or will no deliver DOD freight tendered to them. This includes default, abandoned shipments, and bankruptcy by the carrier.