What is a Federal Maritime Commission (FMC) Bond?

An FMC Bond is a $75,000 surety bond required by the Federal Maritime Commission for Ocean Freight Forwarders and Non-Vessel Operating Common Carriers (NVOCCs). It guarantees that the licensed entity will comply with FMC regulations and fulfill financial obligations to shippers. Without it, the FMC will not issue or renew your OTI license.

Do I need a US Customs Bond to import goods through Oregon ports?

Yes. US Customs and Border Protection requires a customs bond for all commercial imports. A continuous import bond (typically $50,000 minimum) covers all entries for one year and is the most cost-effective option for regular importers. Single-entry bonds are available for one-time shipments. Bond amounts are based on 10% of duties, taxes, and fees paid in the prior 12 months.

What is an Oregon Boat Registration Agent Bond?

The Oregon State Marine Board requires a surety bond from agents authorized to issue temporary boat permits on behalf of the state. The bond guarantees that the agent will remit all collected fees to the Marine Board on time and in full. Typical bond amounts range from $5,000 to $25,000 depending on the volume of permits issued.

How much does a maritime surety bond cost in Oregon?

Maritime bond premiums are typically 1%–3% of the bond amount for well-qualified applicants. For example, a $75,000 FMC bond might cost $750–$2,250 per year. A $50,000 customs bond might cost $500–$1,500 per year. Applicants with poor credit may pay 5%–15% of the bond amount. We provide exact quotes after reviewing your application.

What is the difference between a surety bond and insurance?

A surety bond is a three-party agreement: the principal (you), the obligee (the government agency or client requiring the bond), and the surety (the bond company). The bond protects the obligee, not you. If a claim is paid on your bond, you must reimburse the surety. Insurance, by contrast, protects you from covered losses without requiring repayment.

Do Oregon marine contractors need a performance bond for port projects?

Yes. Most Oregon port authorities and public agencies require performance and payment bonds for marine construction, dredging, and infrastructure projects. The Oregon Public Contracting Code requires performance bonds on public contracts over $100,000. Bond amounts are typically 100% of the contract value.

Can you provide both maritime bonds and marine insurance?

Yes. Gerald Ross Agency provides a complete marine risk program — maritime bonds (FMC, customs, port authority, performance), hull & machinery insurance, Protection & Indemnity (P&I), ocean cargo, and commercial fishing coverage — all coordinated through one independent agency.

Maritime Bond Insurance

FMC Bonds · Customs Bonds · Port Authority Bonds · Ocean Cargo

Maritime Bond Insurance

FMC Bonds · Customs Bonds · Port Authority Bonds · Ocean Cargo — Complete Maritime Compliance for Oregon Coast Businesses

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Maritime Bonds for Oregon's Coastal Economy

Oregon's maritime economy — from the Port of Newport's commercial fishing fleet to the Port of Coos Bay's international cargo operations — depends on a complex web of federal and state bonding requirements. Ocean freight forwarders need FMC bonds. Importers need US Customs bonds. Marine contractors need performance bonds. Boat registration agents need Oregon State Marine Board bonds.

Gerald Ross Agency has served Oregon's maritime community since 1935. We understand the ports, the federal agencies, and the state regulators that govern maritime commerce on the Oregon Coast — and we build complete maritime bond and insurance programs that keep your operation compliant and protected.

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Maritime Bonds & Marine Insurance We Provide

Federal Maritime Commission (FMC) Bond

FMC mandatory: $75,000

Required for Ocean Freight Forwarders and Non-Vessel Operating Common Carriers (NVOCCs) licensed by the Federal Maritime Commission. Guarantees compliance with FMC regulations and financial obligations to shippers.

US Customs Bond (Continuous Import Bond)

CBP mandatory for importers

Required by US Customs and Border Protection for importers who bring goods into the United States. A continuous bond covers all entries for one year; a single-entry bond covers one shipment. Bond amount is typically 10% of duties, taxes, and fees paid in the prior year (minimum $50,000).

Oregon Boat Registration Agent Bond

Oregon State Marine Board

Required by the Oregon State Marine Board for agents authorized to issue temporary boat permits. Guarantees that collected fees are remitted to the state on time and in full. Typical bond amount: $5,000–$25,000.

Marine Contractor Performance & Payment Bond

Required for public marine projects

Required for contractors performing dredging, dock construction, breakwater repair, and other marine infrastructure projects for public ports and government agencies. Guarantees project completion and payment to subcontractors and suppliers.

Port Authority License Bond

Port authority requirement

Many Oregon port authorities require license bonds from stevedores, terminal operators, and marine service providers as a condition of operating within port boundaries. Bond amounts vary by port and license type.

Ocean Cargo Insurance

Strongly recommended

Protects goods in transit by sea against loss, damage, or theft. Covers all-risk perils including vessel sinking, fire, collision, and general average contributions. Essential for Oregon businesses importing or exporting goods through Pacific Coast ports.

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Maritime Bond Quote Request

A local agent will review your maritime operation and contact you within one business day with bond options and pricing.

Why Oregon Maritime Businesses Choose Gerald Ross Agency

Oregon Coast Maritime Specialists

We understand the Port of Newport, Port of Coos Bay, Port of Brookings Harbor, and the unique bonding requirements of Oregon's coastal maritime industry.

Federal Maritime Commission Bonds

We issue FMC Bonds for Ocean Freight Forwarders ($75,000) and Non-Vessel Operating Common Carriers ($75,000) required by the Federal Maritime Commission.

Customs Bonds & Import/Export

Continuous customs bonds for importers and exporters, single-entry bonds for one-time shipments, and carnet bonds for temporary imports — all filed directly with US Customs.

Port Authority & License Bonds

Oregon State Marine Board Boat Registration Agent Bonds, port authority performance bonds, and contractor license bonds for marine construction and dredging operations.

Independent Agency Since 1935

Serving Oregon's maritime community for nearly 90 years. We know the local ports, the state regulators, and the federal agencies that govern maritime commerce on the Oregon Coast.

Marine Insurance Coordination

We pair maritime bonds with hull & machinery, P&I, cargo, and commercial fishing insurance — one agency managing your complete marine risk program.

Maritime Bond Insurance FAQ

Related Coverage

Surety Bonds Commercial Fishing Insurance Marina & Boat Yard Insurance Inland Marine General Liability Freight Brokerage Insurance Business Insurance

Get In Touch

Ready to protect your maritime operation? Call us at (541) 469-3144, email [email protected], or visit our office at 97 Beach Loop Dr, Brookings, OR 97415. We have been serving Oregon's maritime community since 1935.

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