OMB No. 3072-0018

Expires 11/30/2026

Form FMC-48

FEDERAL MARITIME COMMISSION

Ocean Transportation Intermediary (OTI) Bond 

(Section 19, Shipping Act of 1984 (46 U.S.C. 40901-40904))

________________________________[indicate whether NVOCC or Freight Forwarder], as 

Principal (hereinafter “Principal”), and _____________________________________, as Surety 

(hereinafter “Surety”) are held and firmly bound unto the United States of America in the sum of 

$__________ for the payment of which sum we bind ourselves, our heirs, executors, 

administrators, successors and assigns, jointly and severally.

Whereas, Principal operates as an OTI in the waterborne foreign commerce of the United States 

in accordance with the Shipping Act of 1984, 46 U.S.C. 40101-41309, and, if necessary, has a 

valid tariff published pursuant to 46 CFR part 515 and 520, and pursuant to section 19 of the 

Shipping Act (46 U.S.C. 40901-40904), files this bond with the Commission;

Whereas, this bond is written to ensure compliance by the Principal with section 19 of the Shipping

Act (46 U.S.C. 40901-40904), and the rules and regulations of the Federal Maritime Commission 

relating to evidence of financial responsibility for OTIs (46 CFR part 515), this bond shall be 

available to pay any judgment obtained or any settlement made pursuant to a claim under 46 CFR 

515.23 for damages against the Principal arising from the Principal's transportation-related 

activities under the Shipping Act, or order for reparations issued pursuant to section 11 of the 

Shipping Act (46 U.S.C. 41301-41302, 41305-41307(a)), or any penalty assessed against the 

Principal pursuant to section 13 of the Shipping Act (46 U.S.C. 41107-41109).

Now, Therefore, The condition of this obligation is that the penalty amount of this bond shall be 

available to pay any judgment or any settlement made pursuant to a claim under 46 CFR 515.23

for damages against the Principal arising from the Principal's transportation-related activities or 

order for reparations issued pursuant to section 11 of the Shipping Act (46 U.S.C. 41301-41302, 

41305-41307(a)), or any penalty assessed against the Principal pursuant to section 13 of the 

Shipping Act (46 U.S.C. 41107-41109).

This bond shall inure to the benefit of any and all persons who have obtained a judgment or a 

settlement made pursuant to a claim under 46 CFR §515.23 for damages against the Principal 

arising from its transportation-related activities or order of reparation issued pursuant to section 

11 of the Shipping Act (46 U.S.C. 41301-41302, 41305-41307(a)), and to the benefit of the Federal 

Maritime Commission for any penalty assessed against the Principal pursuant to section 13 of the 

Shipping Act (46 U.S.C. 41107-41109). However, the bond shall not apply to shipments of used 

household goods and personal effects for the account of the Department of Defense or the account 

of federal civilian executive agencies shipping under the International Household Goods Program 

administered by the General Services Administration.
The liability of the Surety shall not be discharged by any payment or succession of payments 

hereunder, unless and until such payment or payments shall aggregate the penalty amount of this 

bond, and in no event shall the Surety's total obligation hereunder exceed said penalty amount, 

regardless of the number of claims or claimants.

This bond is effective the ___ day of __________, _____ and shall continue in effect until 

discharged or terminated as herein provided. The Principal or the Surety may at any time terminate 

this bond by mail or email (bcl@fmc.gov) written notice to the Director, Bureau of Certification 

and Licensing, Federal Maritime Commission, Washington, DC. 20573. Such termination shall 

become effective thirty (30) days after receipt of said notice by the Commission. The Surety shall 

not be liable for any transportation-related activities of the Principal after the expiration of the 30-

day period but such termination shall not affect the liability of the Principal and Surety for any 

event occurring prior to the date when said termination becomes effective.

The Surety consents to be sued directly in respect of any bona fide claim owed by Principal for 

damages, reparations or penalties arising from the transportation-related activities under the 

Shipping Act of Principal in the event that such legal liability has not been discharged by the 

Principal or Surety after a claimant has obtained a final judgment (after appeal, if any) against the 

Principal from a United States Federal or State Court of competent jurisdiction and has complied 

with the procedures for collecting on such a judgment pursuant to 46 CFR 515.23, the Federal 

Maritime Commission, or where all parties and claimants otherwise mutually consent, from a 

foreign court, or where such claimant has become entitled to payment of a specified sum by virtue 

of a compromise settlement agreement made with the Principal and/or Surety pursuant to 46 CFR 

515.23, whereby, upon payment of the agreed sum, the Surety is to be fully, irrevocably and 

unconditionally discharged from all further liability to such claimant; provided, however, that 

Surety's total obligation hereunder shall not exceed the amount set forth in 46 CFR 515.21, as 

applicable.

The underwriting Surety will promptly notify the Director, Bureau of Certification and Licensing,

Federal Maritime Commission, Washington, DC. 20573, in writing by mail or email 

(bcl@fmc.gov), of all claims made, lawsuits filed, judgments rendered, and payments made 

against this bond.

Signed and sealed this ___ day of __________, _____.

(Please type name of signer under each signature.)

____________________________________________

Individual Principal or Partner

____________________________________________
Business Address

____________________________________________

Individual Principal or Partner

____________________________________________

Business Address

____________________________________________

Individual Principal or Partner

____________________________________________

Business Address

____________________________________________

Trade Name, If Any

____________________________________________

Corporate Principal

____________________________________________

State of Incorporation

____________________________________________

Trade Name, If Any

____________________________________________ 

Business Address

____________________________________________
By

____________________________________________

Title

____________________________________________

(Affix Corporate Seal)

____________________________________________

Corporate Surety

____________________________________________

Business Address

____________________________________________

By

____________________________________________

Title

(Affix Corporate Seal)

Form FMC-48

(Rev. 12/2015)