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No Increase for Forwarder, NVO Bonds The Federal Maritime Commission’s proposed revisions to ocean transportation intermediary (OTI) rules have been amended to eliminate some mandates that were unpopular with freight forwarders and OTIs. Proposed bond increases, which met with industry pushback, have been eliminated from the FMC’s newest version of the guidelines. The June 2013 original proposal included increases in bonds: for freight forwarders—to $75,000, up from $25,000; for licensed non-vessel-operating common carriers (NVOCCs)—to $100,000, up from $75,000; and for registered foreign-based NVOCCs—to $200,000, up from $150,000. A new OTI proposal containing no bond-requirement increases is expected to be released […]
Join us for a complimentary webinar on Tuesday, October 14th from 11:30am – 12:30pm CT In August 2014, Roanoke held a complimentary webinar for its clients on eBond. We are reprising this webinar for those who missed it or would like to attend again. In this presentation, we will provide a variety updates since our last webinar, not limited to: • How ACE and eBond will impact your current ABI processing • How your software provider must be involved to assist in the seamless and efficient transfer of bond data to Roanoke for bond issuance • Why your thorough understanding of the […]
Roanoke Trade, as member of the National Association of Surety Bond Producers (NASBP), represents NASBP on the Customs Surety Executive Committee (CSEC). Members of CSEC collaborated to compile an FAQ and related documents at the request of the National Customs Brokers and Freight Forwarders Association (NCBFAA). This FAQ document and appendices are posted for general information purposes. Please read the FAQ/appendices in their entirety to gain a clear understanding of what they represent and how they were formulated. Although the FAQ was prepared at the request of the NCBFAA, the posting of these documents does not imply endorsement of the data requirements […]
Workers’ Compensation: Making Warehouse Safety A Priority Workers’ Compensation insurance is a significant expense for all businesses, including warehouse operators storing cargo for third parties. While the frequency and severity of workplace accidents for this sector is not at the level as some others (construction, for example), a series of even minor incidents can still seriously injure employees and lead to lost productivity, higher insurance bills, and government (OSHA) fines. In fact, according to the U.S. Bureau of Labor Statistics, the warehousing and storage industry experiences nearly 15,000 injuries and illnesses annually. The primary cause of injuries taking place in […]
Congress Holds Off on Deciding Export-Import Bank’s Fate Until Next Summer The operating authority of the Export-Import Bank (Ex-Im Bank), the federal government’s export credit agency, was set to expire next week on September 30th but has received temporary reprieve after Congress approved a short-term extension of its charter. House Speaker John Boehner included a measure temporarily extending the export credit agency’s authority until June 30th as part of a broader deal that was tied to a stop-gap bill to fund the government through December 11th. The Ex-Im Bank offers loans to foreign buyers of U.S. products, and insurance and […]
Roanoke Insurance Group Inc. will be presenting an eBond and ATA Carnet workshop, sponsored by Detroit Customs Brokers & Forwarders Association, Inc. (DCBFA) on Tuesday, September 30, 2014. The presentation will take place at Mario’s Restaurant in Detroit, Michigan at 6:00PM. Colleen Clarke, Vice President, Surety Trade Relations will discuss eBond’s transition to replace the traditional Customs Bond. She will talk about what this means for the trade community and touch on the benefits to an electronic bond filing and acceptance system, and how it will change the way you do business. You will also hear about the most recent status of eBond and what […]
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