the role of the ocean transportation intermediary (oti)
TRANSCRIPT
![Page 1: The Role of the Ocean Transportation Intermediary (OTI)](https://reader030.vdocuments.site/reader030/viewer/2022020200/56649db15503460f94a9f27b/html5/thumbnails/1.jpg)
The Role of the Ocean Transportation
Intermediary (OTI)
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OTI
• OTI’s combine the former operations of International Freight Forwarders (IFF) and Non Vessel Operating Common Carriers (NVOCC)
• They are regulated by the Federal Maritime Commission (FMC)
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OTI’s Involvement
I. Provide Information
II. Prepare Documentation
III. Move the Shipment
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Provide Information
• Available Steamship Service
• Port Capabilities
• Packing Requirements
• Containerization Options
• Freight Charges:– Handling Fees– Port Fees, etc.
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Prepare Documentation
• Export Clearance
• Carriage
• Insurance
• Destination Clearance
• Banking
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Move the Shipment
• Secure (book) space on the carrier
• Arrange for container to be placed for loading
• Arrange for any required inspections, fumigations, etc.
• Secure the on-board carrier bill of lading
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OTI’s Receive Compensation From…
• Shipper– Documentation and Forwarding Fees
• Ocean Carrier– Brokerage (commission)
• Inland Carrier– Property Brokerage
• Insurance Provider– Markup of premium
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The Ocean Transportation Intermediary coordinates the various parties involved in the
cargo movement and the services provided are based on
the needs of the individual shipper.
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Fin