Marine Tankers Need COFRs
Marine vessels such as barges and tankers move chemical-based products and oil around the planet. The journeys are often made safely with no problems. However, when accidents happen, the U.S. Congress established guidelines holding vessel operators financially responsible for cleaning up spills in U.S. waters. As such, vessel operators must be able to show they have the ability to pay for cleanups.
Marine vessels meeting certain weight and cargo specifications are required to have a Certificate of Financial Responsibility. The U.S. Coast Guard administers this program, which is focused on identifying those in charge of vessels and holding them accountable monetarily for cleanups in the event spills happen. Vessel operators should seek out reliable COFR Guaranties.
Penalties for operators who do not have legal COFRs are heavy, and they include:
- Vessel forfeiture or seizure
- Civil penalties in excess of $44,000 each day
- Denial of U.S. port entry
National authorities set serious punishments to force vessel operators to take responsibility for spills, which can have devastating environmental effects.
Applying for a COFR
Vessel operators can easily apply for COFRs over the internet as well as handle other important business, including:
- Turning in and paying for first-time COFRs
- Renewing expired COFRs
- Downloading regulations
- Searching for vessel information
The right paperwork, including proof of financial responsibility, is vital for those operating marine tankers and barges. Luckily, obtaining COFRs is convenient so that day-to-day operations can continue without a problem.