International Carrier Bonds
In the wake of the September 11, 2001 terrorist attacks, U.S. laws and regulations changed to meet the threat posed to national security. These changes include new notification requirements for commercial vessels entering and departing U.S. ports. U.S. Customs and Border Protection and the U.S. Coast Guard now require that all commercial vessels entering U.S. Ports electronically submit cargo manifests as well as crew/passenger manifests in advance of arrival. As part of these requirements, vessels must post security in the form of an International Carrier Bond ("ICB"). The face value of the ICB can differ depending upon the security requirements of the port of entry, usually from $50,000 to $150,000.
Lamorte Burns offers an ICB service to assist our clients to comply with these new requirements. Our ICB service includes:
- Obtaining the necessary application forms from the relevant agencies and surety
- Providing guidance to properly complete application forms
- Submitting original application forms to correct agencies
- Obtaining an ICB
- Arranging for a U.S. Custom's approved Automated Data Service Provider to provide a platform to electronically submit cargo manifests to U.S. Customs.
Certificates of Financial Responsibility
The Oil Pollution Act of 1990 ("OPA 90") and the Comprehensive Environmental Response,
Compensation and Liability Act ("CERCLA") require operators of vessels of 300 gross tons or
more present "evidence of financial responsibility," through the purchase of Certificates
of Financial Responsibility ("COFRs"), prior to entering U.S. waters. COFRs act as proof that
a vessel operator is able to pay its legal liability in the event of an oil spill or release of a
hazardous substance in U.S. waters. COFRs are issued by the National Pollution Funds Center
(NPFC) of the U.S. Coast Guard.
Lamorte Burns provides a COFR service whereby we can offer the following:
- Submit the NPFC COFR application
- Act as U.S. Agent for Service of Process for the COFR
- Obtain the original COFR
- Obtain quotes from U.S. Coast Guard pollution insurers and/or Coast Guard COFR guarantors
