Appendix E to Part 515 - Optional Rider for Additional NVOCC Financial Responsibility (Optional Rider to Form FMC-48) [FORM 48A]
46:9.0.1.2.10.7.1.1.12 : Appendix E
Appendix E to Part 515 - Optional Rider for Additional NVOCC
Financial Responsibility (Optional Rider to Form FMC-48) [FORM 48A]
FMC-48A, OMB No. 3072-0018, (04/06/04) Optional Rider for
Additional NVOCC Financial Responsibility [Optional Rider to Form
FMC-48] RIDER
The undersigned __, as Principal and __, as Surety do hereby
agree that the existing Bond No. __ to the United States of America
and filed with the Federal Maritime Commission pursuant to section
19 of the Shipping Act of 1984 is modified as follows:
1. The following condition is added to this Bond:
a. An additional condition of this Bond is that $__ (payable in
U.S. Dollars or Renminbi Yuan at the option of the Surety) shall be
available to pay any fines and penalties for activities in the
U.S.-China trades imposed by the Ministry of Communications of the
People's Republic of China (“MOC”) or its authorized competent
communications department of the people's government of the
province, autonomous region or municipality directly under the
Central Government or the State Administration of Industry and
Commerce pursuant to the Regulations of the People's Republic of
China on International Maritime Transportation and the Implementing
Rules of the Regulations of the PRC on International Maritime
Transportation promulgated by MOC Decree No. 1, January 20,
2003.
b. The liability of the Surety shall not be discharged by any
payment or succession of payments pursuant to section 1 of this
Rider, unless and until the payment or payments shall aggregate the
amount set forth in section 1a of this Rider. In no event shall the
Surety's obligation under this Rider exceed the amount set forth in
section 1a regardless of the number of claims.
c. The total amount of coverage available under this Bond and
all of its riders, available pursuant to the terms of section 1(a.)
of this rider, equals $__. The total amount of aggregate coverage
equals or exceeds $125,000.
d. This Rider is effective the __ day of __, 20__, and shall
continue in effect until discharged, terminated as herein provided,
or upon termination of the Bond in accordance with the sixth
paragraph of the Bond. The Principal or the Surety may at any time
terminate this Rider by mail or email ([email protected]) written
notice to the Director, Bureau of Certification and Licensing,
Federal Maritime Commission, Washington, DC 20573, accompanied by
proof of transmission of notice to MOC. Such termination shall
become effective thirty (30) days after receipt of said notice and
proof of transmission by the Federal Maritime Commission. The
Surety shall not be liable for fines or penalties imposed on 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 fine or penalty imposed prior to the date when said
termination becomes effective.
2. This Bond remains in full force and effect according to its
terms except as modified above.
In witness whereof we have hereunto set our hands and seals on
this day __ of ______, 20__,
[Principal],
By: ________________________
[Surety],
By: ________________________
[80 FR 68738, Nov. 5, 2015]