Services and Products
SIGCo provides the following products and related services to assist shipowners trading
to or within the USA.
To comply with The Oil Pollution Act of 1990, vessels over 300 Gross Tons sailing within the US Exclusive Economic Zone (EEZ) require “Evidence of Financial Responsibility”, usually in the form of a Guaranty supporting a Certificate of Financial Responsibility (COFR) issued by the National Pollution Funds Center (NPFC) in the US. SIGCo provides this Guaranty for shipowners who are able to satisfy certain criteria. As a consequence of providing a COFR Guaranty, SIGCo is liable for claims arising under OPA90 CERCLA that result from oil pollution incidents within the US EEZ.
In order to add value to its COFR Guaranty provision, SIGCo will, if the member desires, also make a CG5585 application to the NPFC to obtain the COFR Certificate which is required to be supported by the Guaranty. In addition to removing the administrative burden of this application from its members, SIGCo absorbs all associated costs, such as certification fees and process agents’ fees without charge as a benefit of membership.
As a further service to our members, SIGCo has arranged a facility to provide them International Carrier Bonds (ICB). An ICB is required by US Customs & Border Protection in order for the shipowner to comply with Automated Manifest Service (AMS) and Automated Passenger Information Service (APIS) regulations when trading to the USA. The SIGCo ICB programme is the lowest-cost, least administratively burdensome option currently available.