Book review: The Death of Globalization, by John Manners-Bell
Appropriately, this book review is published the day after US president Joe Biden convened the ...
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By Alex Lennane
Since February, freight forwarders have been required by the Chinese ministry of transport (MoT) to ensure that they are an MoT-certified NVOCC if accepting liability and dealing in exports from China. The decree has caused some confusion among both lines and forwarders, which, in some cases, have been told by carriers that they will not accept bookings unless they are registered as with the Shanghai Shipping Exchange. In this article, BIFA clears up the confusion, broadly speaking.
Comment on this article
Nick Coverale
June 04, 2014 at 9:39 pmWhen I ran my own company in China, we obtained the Ministry of Communications bond which must be paid by cash only (RMB800,000.00). I understood that to make a contract for freight with a VOCC the NVOCC must be bonded, the same as if you contract for cargo out of the USA you must be bonded with the FMC.
The US and PRC made an agreement that a US NVOCC could do such without having to obtain the bond in China, by increasing their bond from US$75,000.00 to equal that of the MOC bond – known as “a rider”
These rules go to sleep in China for periods of time then suddenly it decided they should be implemented. It’s been like that for years