 Surety
Bonds
Global
Solutions
Insurance
Services,
Inc.
(GSIS)
provides
all
types
of
classifications
of
activities
of
U.S.
Customs
Bonds
and
several
other
bonds
that
are
associated
with
the
U.S.
Customs
Service
and
the
Federal
Maritime
Commission.
Contact
us
for
surety,
continuous,
or
single
transaction
bonds,
or
all
of
your
OTI,
NVOCC,
and
customs
bond
needs.
Customs
Bonds
A
Customs
Bond
guarantees
the
payment
of
import
duties
and
taxes
as
well
as
assures
the
compliance
with
all
laws
and
regulations
governing
the
entry
of
merchandise
into
the
United
States.
The
parties
involved
in
the
bond
contract
are
the
principal
(Importer
of
Record),
the
surety
(the
insurance
company),
and
the
obligee
(who
the
insurance
company
is
paying;
in
this
case,
U.S.
Customs).
Bonds
come
in
two
forms;
Continuous
Bonds
are
annual
bonds
which
allow
multiple
shipments
to
be
entered
into
the
U.S.
and
Single
Transaction
Bonds
which
allow
for
a
one
time
entry
of
merchandise
into
the
U.S.
OTI
Bonds
An
OTI
(Ocean
Transportation
Intermediary)
Bond
is
required
by
the
Federal
Maritime
Commission
(FMC)
to
guarantee
compliance
with
the
Ocean
Shipping
Reform
Act.
There
are
two
forms
of
bonds,
the
Freight
Forwarder
bond
guarantees
the
Freight
Forwarder
will
carry
out
all
contract
made
while
acting
as
an
Ocean
Freight
Forwarder,
licensed
by
the
FMC.
The
bond
responds
to
claims
made
by
shippers
and
carriers
(Ocean,
Air
&
Motor),
a
judgment
is
not
required
for
a
claim
to
be
paid
under
this
bond.
The
Non-Vessel
Operator
Common
Carrier
(NVOCC)
bond
responds
to
the
payment
of
any
judgment
for
damages
against
the
NVOCC
arising
from
transportation
related
activities
while
acting
as
an
NVOCC,
this
bond
also
responds
to
direct
fines
and
penalties
assessed
by
the
FMC.
Unlike
the
Freight
Forwarder
FMC
bond,
the
Surety
must
have
a
judgment
to
pay
a
claim.
Applications
BMC
84
/
Property
Broker
Bond
Single
Entry
Bond
(SEB)
CF301
(Continous
Bond)
International
Carrier
Custom
Warehouse
OTI/NVOCC
Client
Services
Issue
New
SEB
File
New
CTB
SEB
History
Bond
Filing
Guidelines
Forms
Address
Rider
Name
Change
Rider
CBP
5106
Limited
POA
Contact
us
for
more
information
on
the
bonds
we
provide. |
