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This document contains various notices regarding the reissuance and revocation of Ocean Transportation Intermediary licenses issued by the Federal Maritime Commission, as well as a consent order related
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How to fill out ocean transportation intermediary license
How to fill out Ocean Transportation Intermediary License Notifications
01
Gather all required documentation including proof of financial responsibility and a valid business license.
02
Complete the Ocean Transportation Intermediary License application form provided by the Federal Maritime Commission (FMC).
03
Provide detailed information about your business operations, including mode of transportation and types of services offered.
04
Submit fingerprints for a background check as required for all principal officers or partners.
05
Pay the required application fee as specified by the FMC.
06
Submit the completed application and documentation to the FMC for review.
07
Await approval and any communication from the FMC regarding your application status.
Who needs Ocean Transportation Intermediary License Notifications?
01
Any individual or company that arranges for the transportation of goods by water in the U.S.
02
Freight forwarders and Non-Vessel Operating Common Carriers (NVOCCs) require this license to operate legally.
03
Businesses that provide services related to shipping and transportation logistics for ocean freight.
04
Those intending to represent shippers or carriers in international maritime commerce.
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People Also Ask about
What does oti mean in shipping?
Ocean Transportation Intermediaries (OTIs) are either Ocean Freight Forwarders or Non-Vessel-Operating Common Carriers and are regulated by the FMC pursuant to the Shipping Act of 1984.
What does oti stand for in shipping?
A freight intermediary (also known as an OTI or Ocean Transportation Intermediary) is someone that assists an exporter or an importer in securing the best freight rates possible while providing the quickest routing for their cargoes and also preparing and processing the documents related to these shipments.
What is the difference between OTI and Nvocc?
Key Lesson: NVOCCs and freight forwarders both need an OTI license to legally ship your goods. NVOCCs take on more legal responsibility by issuing the BOL, while freight forwarders are like detail-oriented travel agents for cargo.
What does OTI stand for and is used by the FMC to identify what two types of service providers?
Ocean Transportation Intermediaries (OTIs) are either Ocean Freight Forwarders or Non-Vessel-Operating Common Carriers and are regulated by the FMC pursuant to the Shipping Act of 1984.
What is an Oti license?
The FMC issues licenses to qualified ocean transportation intermediaries (OTIs) in the U.S. and ensures that all OTIs are bonded or maintain other evidence of financial responsibility.
What does for stand for in shipping?
Do you know what FOR stands for? It stands for "Freight on Road." The term freight refers to goods that are transported in bulk from one location to another, such as from one city to another, or from one country to another. The cost of transporting goods is referred to as freight cost.
What is FMC certification?
(FMC®) PROGRAM. Develop the characteristics needed to secure and prepare for entry-level positions in investment banking, private equity, and other competitive fields in finance.
How much does it cost to get an OTI license?
Application Fee: $500 – $1,500. License Fee: $1,000 – $5,000. Surety Bond or Insurance Premium: $2,000 – $10,000 per year (varies based on coverage amount and OTI's financial standing)
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What is Ocean Transportation Intermediary License Notifications?
Ocean Transportation Intermediary License Notifications are formal communications required by the Federal Maritime Commission (FMC) for entities that operate as ocean transportation intermediaries, which include freight forwarders and non-vessel operating common carriers (NVOCCs).
Who is required to file Ocean Transportation Intermediary License Notifications?
All entities operating as ocean transportation intermediaries, including freight forwarders and NVOCCs, are required to file these notifications.
How to fill out Ocean Transportation Intermediary License Notifications?
To fill out Ocean Transportation Intermediary License Notifications, entities must provide accurate and complete information as required by the FMC, including details about the business, contact information, and any affiliated parties.
What is the purpose of Ocean Transportation Intermediary License Notifications?
The purpose of Ocean Transportation Intermediary License Notifications is to ensure compliance with federal regulations and to maintain transparency and accountability in the ocean transportation industry.
What information must be reported on Ocean Transportation Intermediary License Notifications?
Information required includes the name and contact details of the intermediary, license number, business operations, and any changes in organizational structure, affiliations, or compliance.
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