Massachusetts Fed Freight Forwarder | $50,000 Fed Freight Forwarder Surety Bond
Also known as: fed freight forwarder bond
Type of Bond
A federal freight forwarder bond, also known as an OTI (Ocean Transportation Intermediary) bond or a freight broker bond, is a type of surety bond required by the Federal Maritime Commission (FMC) for companies engaged in arranging the transportation of goods by ocean freight. The purpose of the federal freight forwarder bond is to ensure that the bonded party operates with integrity, complies with federal regulations, and fulfills their financial obligations to customers, carriers, and other parties involved in the transportation process. By obtaining the bond, the bonded freight forwarder agrees to fulfill their obligations, which typically include accurately representing their services, arranging transportation with authorized carriers, handling necessary documentation, and meeting financial responsibilities. If the bonded freight forwarder fails to meet these obligations or violates the terms of the bond agreement, a claim can be filed against the bond, allowing affected parties to seek financial compensation for damages or losses. The bond amount for a federal freight forwarder bond is determined by the FMC and may vary based on factors such as the size of the operation and the volume of freight handled by the bonded party. It's important to note that a federal freight forwarder bond is specific to the regulations and requirements set by the Federal Maritime Commission in the United States. Freight forwarders engaged in arranging ocean freight transportation are required to obtain this bond to demonstrate their financial responsibility and compliance with federal regulations governing the industry.
Program
The price you'll pay for your $50,000 Fed Freight Forwarder Bond is generally based on your personal credit score. Start a free online quote by just completing a simple app or by calling 888-518-8011. Our experts will walk you through a very simple process. Compare our quote as the very lowest price, and then you're good to go! It's that simple!
We provide all types of $50,000 Fed Freight Forwarder Bonds. Worldwide Insurance Specialists, Inc. has "in house" underwriting authority with the largest and best Surety (Insurance) companies in the world including, Great American, Liberty Mutual, Philadelphia, Travelers, and CNA Surety. All of these surety bond companies are A-rated under the AM Best credit rating system, and T-listed with the U.S. Department of Treasury. This guarantees that by getting bonded through us, you will be provided the backing of these highly trustworthy and reliable companies.
Application
The application process for a $50,000 Fed Freight Forwarder Bonds is easy! Many Bonds are INSTANT ISSUE! Easy Application, no underwriting, no credit check, no GIA required. Our NEW Desktop underwriting program provides you with a rapid approval process used to determine the degree of risk that you (the Principle) complete a project or obligation. Non-INSTANT ISSUE quotes can also get instantly approved. Submissions require very little information from you. Once you file and sign an indemnity agreement, we issue the Bond. It's that simple! We quote and issue Surety Bonds of every type and will help you through the entire process. These applications only require basic information about your business, bond type, and ownership structure. Once the application is complete, we submit to the insurance company (Surety) who will then issue your bond. Don't pay too much! Get your Bond Fast, and Easy with the best price! Click here to start the Fed Freight Forwarder Bond Application process.
The Massachusetts Fed Freight Forwarder Bond amount is currently set at $50,000.
Obligee Information
An obligee is the entity that is requiring you to have the Fed Freight Forwarder bond.
Obligee: Federal Maritime Commission
If you or your business needs help in obtaining a surety bond or commercial insurance give us a call!