Is it true that a U.S.-based NVO can file a surety bond of $75,000 with the FMC to demonstrate financial responsibility?

A U.S.-based Non-Vessel Operating Common Carrier (NVOCC) is indeed required to file a surety bond with the Federal Maritime Commission (FMC) to demonstrate financial responsibility. The surety bond amount is typically set at $75,000, serving as a financial guarantee for the NVOCC's ability to meet its obligations under the Shipping Act. This requirement helps protect shippers and the shipping industry by ensuring that NVOCCs have the financial backing to cover any potential claims or liabilities that might arise from their operations.

NVOCCs act as intermediaries between shippers and carriers, facilitating the transportation of goods without owning the vessels that carry them. Having a surety bond in place is essential for maintaining compliance and trust in the logistics and shipping industry, as it provides assurance that the NVOCC can handle financial judgments if they were to occur.

The other options do not accurately reflect the regulations applicable to NVOCCs. There is no limitation to certain industries or specific types of shipments concerning the bond requirement, making the understanding of the bond a critical aspect for those involved in international trade and shipping compliance.