Why is customs bonds and oti bonds needed?

The International Freight Forwarders (IFF) and Non-Vessel Operating Common Carrier (NVOCC) are encouraged by the FMC to become licensed Ocean Transportation Intermediary (OTI). After that procedure, they can originate their cargos from foreign locations to be destined into the United States. Then after, they will have to obtain OTI Bonds SC which acts as surety bonds to guarantee the financial responsibilities of the ongoing merchandise.