What is OTI Bonds when importing merchandise into USA?

03/07/2018 Business Opportunities, Franchise

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It is necessary to acquire an Ocean Transportation Intermediary (OTI Bonds) License from the FMC (Federal Maritime Commission) to having a Freight Forwarder or NVOCC license or to subject bills of lading in the United States. As a condition from licensure, license holders are officially required to show proof of financial authority in the form of cash deposit or an OTI Bonds CA.

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