What may prevent me from obtaining a license?
Prior to the issuance of a license, a person may not perform, or hold out to perform, ocean intermediary services. Proof of financial responsibility in the form of a surety bond for $50,000.00 must be provided.
The regulations concerning OTI licensing requirement may be viewed at the Commission's website www.fmc.gov.
The information needed to complete the application is available on the website www.fmc.gov. There are a series of frequently asked questions and the answers available that will help understand the licensing procedure.
There is information available in 46 CFR Part 500 (to the end) about the maintenance of records.
Unfortunately, the NCBFAA cannot recommend anyone in particular to assist you because of regulations but can tell you that tariff publishing companies, law firms, and maritime consultants can assist you. They have experience in processing applications and know the required information that must be submitted. Most of these firms can be located on the World Wide Web, or in Maritime related periodicals.
NCBFAA cannot specify what the cost of a surety bond will be, because it varies from company to company and applicant to applicant. The assets, credit history, length of time in the business among other items are all considered by the surety company. They must be approved by the US Treasury Dept. I would recommend trying a few different companies.
Should you have any further questions, please contact the Office of Transportation Intermediaries by telephone at 202.523.5843 orby telefax at 202.566.0011