In addition to the Bond, the FMC requires the following financial certificates and related materials to ensure that the business is in good financial standing and operational capability:
1. Financial Statements
Businesses are required to provide financial statements for the previous year, including:
Income Statement: shows the business's revenues, costs, and profits.
Balance Sheet: shows the assets, liabilities and owner's equity of the business.
Cash Flow Statement: may be required in some cases to show the cash flow of the business.
These financial statements need to reflect the true and accurate financial position of the enterprise, and usually need to be audited and stamped with the official seal of the auditing organization.
2. Credit history review
FMC will review the credit history of the enterprise, including financial status, debt situation, legal disputes, etc. The enterprise will be required to ensure that it has a good credit history. Enterprises need to ensure that they have a good credit history and no adverse credit records. If there is any adverse credit record, the enterprise should take timely measures to repair it and state the situation truthfully in the filing application.
3. Proof of solvency
Enterprises are required to demonstrate solvency to meet claims that may arise from transportation activities. This is usually demonstrated through financial statements and credit history.
4. Other financial related materials
Tax registration certificate: may be required in some cases to prove that the enterprise pays legal taxes.
Scanned copy of the legal person's ID card or passport: used to prove the identity of the legal representative of the enterprise.
Scanned copy of passport of authorized signatory: the signature page should be clearly shown, used to prove the identity and authorization qualification of the authorized signatory.
5. Regular Reporting and Updating
After completing the FMC filing, the enterprise is required to submit relevant reports, such as annual financial report, business operation report, etc. on a regular basis in accordance with the requirements of the FMC, in order to maintain the validity of the qualification.
If there is any change in the financial status or operation of the enterprise, the relevant financial information should be updated in time.
These financial certificates and materials are an important basis for FMC to assess the financial health and operational capability of the enterprise, and to ensure that the enterprise has sufficient financial security and solvency when engaging in NVOCC business.